The Minister of Trade and Industry, Kobina Tahir Hammond, has revealed that the lease of the Komenda Sugar Factory to West Africa Agro Limited will get Ghana a yearly rent payment of over one million dollars.

This was in response to questions raised by a ranking member on the Trade and Industry Committee, Yusif Sulemana.

He had asked why parliament was not informed about the decision by the government to lease the factory to the Indian-based company.

Yusif Sulemana also alleged that Ghana will pay $50,000 monthly for management services.

However, the minister has disputed that, saying that the company will pay Ghana a yearly rent, which is currently set at over one million dollars.

Mr. Hammond stated that the payment will be made annually for the duration of the lease, which can be extended if the company chooses to do so.

“So at the commencement of the agreement to let them lease it, they would be paying us a yearly rent. The company will be paying us, I’ve said that it is over a million dollars. I’ve agreed on a figure which is, for now, a little more than one million dollars a year,” he said.

“They will pay us for the year that they’ll be leasing it. At the end of it, if they are still interested, they could extend the period that they leased and keep on paying us the year’s rent until they give it back to us,” he stated.