Authorities of University of Ghana have denied reports that a United Kingdom-based arbitration court has awarded a cost of 160 million dollars against the school a matter involving the construction of some buildings for the university.

In a statement signed by the Registrar of the University Mercy Haizel-Ashia, the school stressed that the information put out in the story contained “misstatements and untruths” which according to them were orchestrated to create panic among the University’s stakeholders in order to force their hand to accept a position detrimental to the interest of the University.

“The said story contains significant misstatements and untruths intended to create panic among the University’s stakeholders and perhaps put pressure on the University to accept a position detrimental to the interest of the University.

The Africa Integras Project, including matters relating to the substantive and procedural merits of the contract has not been determined by an arbitrator”. Part of the statement read.

The University authorities further urged calm among the stakeholders and assured them that there was no cause for alarm.

Background The University of Ghana entered into a Public-Private Partnership (PPP) agreement with Africa Integras in the tenure of Prof Aryeetey as VC which the company was to invest US$64 million in the construction of multifaceted buildings for the university.

The contract which was a Build Operate and Transfer was for a period of 25 years and the university per the agreement is supposed to pay Africa Integras 10 million USD annually for the entire 25 years.

The current administration, therefore, took the matter to a London court of arbitration but has now lost the case.

Below is the full statement: