Crusading Guide: Konadu received the cheque

Reports reaching The Crusading GUIDE on the missing $17 million being payment for the off-loading of the remaining Government of Ghana (GoG) shares – 35% - in Ghana Cement Works Ltd., (GHACEM) in 1999, by SCANCEM of Norway, indicate that Nana Konadu Agyeman Rawlings allegedly received the cheque representing the amount.

According to the report, the former First Lady was allegedly personally handed the chegue by an official from SCANCEM.

As professionally required, this paper last Monday, attempted to cross check the information with the Special Aide of former President Rawlings, Mr. Victor Smith.

Very, very affable at the time we talked to him via phone, Mr. Victor Smith, who did not deny or confirm the story, demanded to know who handed over the $17,000,000 cheque to the former first lady so that he could also ascertain the authenticity or otherwise of the allegation.

However, the paper did not provide the name of the SCANCEM official/messenger who delivered the cheque.

With a tone of disbelief in his voice, Mr. Smith asked if Mrs. Rawlings was the Finance Minister at the time or represented the Divestiture Implementation Committee (DIC) to be handed a cheque representing such amount?

The Special Aide eventually told the paper that he knew nothing about the matter, and since the former First Lady was not in the country, he could not answer the question as to whether she (Nana Konadu) had taken delivery of a $17 million cheque from SCANCEM or not.

This paper’s findings show that in 1992, Government sold its 2,800,000 shares in GHACEM to SCANCEM, under a Share Sale and Purchase Agreement, which was dated August 5, 1992. The amount (US$4,074,000) which accrued from the sale, was lodged at Ecobank.

A letter acknowledging receipt of the money was dispatched by Mr. E.A. Agbodo, Executive Secretary of the DIC, to Capt. Kojo Tsikata, member of the Provisional National Defence Council (PNDC) and Chairman of the Economic Review Committee. Copies of this letter were sent to Mr. Ebow Tawiah, PNDC Member/Chairman – DIC, Mr. P.V. Obeng, PNDC Member/Chairman, Committee of Secretaries and Dr. Kwesi Botchwey, PNDC Secretary/Minister of Finance and Economic Planning.

However, there are no traces of the $17 million which payment has enabled SCANCEM to take full control of GHACEM.

Reports say a letter was dispatched from the Auditor-General’s office to the President indicating that there were no records on the $17 million payment.

Officials of the Serious Fraud Office (SFO) are also reported to have dispatched a search team to the headquarters of GHACEM in Tema to look for evidence of the payment of the money.

GHACEM at 1999 was undoubtedly a State property – 75 percent shares belonged to the State and 24.5 percent was for SCANCEM. However by 1999, GoG had offloaded all its shares in the company.

Below are some documents for readers perusal.