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Business News of Saturday, 17 August 2024

Source: starrfm.com.gh

Komenda Sugar Factory: We won't honour shady agreements – John Mahama declares

Komenda Sugar Factory will be leased to investors for a period of 15 to 20 years Komenda Sugar Factory will be leased to investors for a period of 15 to 20 years

Flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, says the next government he leads into office will not cooperate with any investor involved in questionable agreements with the ruling government regarding the Komenda Sugar Factory.

Mr. Mahama called for a transparent process in transferring ownership of what he described as a "national asset" to any potential investor.

"I have read about the rush to lease out the Komenda Sugar Factory to an investor. The issue with this government is their lack of transparency in everything they do. I want to caution the investor. I hope the leasing process has undergone a transparent procurement process. Therefore, buyer beware. Whoever that investor is should be careful because if the process has not been transparent, we are not willing to comply with any transfer of that facility."

His warning came after an announcement by the Minister of Trade and Industry, Kobina Tahir Hammond, that the government had decided to lease the Komenda Sugar Factory to West African Agro Limited for a renewable duration of 15 to 20 years.

However, former President Mahama warned against the deal, stating that he had not seen an open process.

"We need to open it up and attract the best investor to partner with the government to operate that sugar factory. So, whoever it is, I am just sending a note of caution. I have not seen any transparent process in the attempt to lease out that sugar factory."

Mr. Mahama insisted that if they discovered the transfer arrangement was dubious, the next government under his leadership "will not cooperate."