Election 2004: Osafo-Marfo Is The Main Issue

After weeks of muddle and chaos surrounding the CNT $300m loan and weeks during which all government business and activity has been overshadowed by the issue, Ghana?s Minister of Finance and Economic Planning ? Hon Yaw Osafo-Marfo called a Press Conference and had an opportunity to lift the doubts and uncertainty around the NPP Government. He had the opportunity to restore credibility to the office of Finance Minister and the Ministry of Finance and Economic Planning (MOFEP)
The Hon. Minister failed miserably in that task and did not address the main issues at the heart of the scandal:
Why the Government of Ghana is seeking loans from Apartment Bedrooms in London?
? Has Joining HIPC meant that Ghana cannot secure loans from reputable Banks or Finance Houses?
Is it indeed a loan or a Suppliers Agreement?
What is the clear identity, location and ownership of CNT Group Holdings Ltd.?
Why did MOFEP?s Due Diligence assessment not pick up the basics of fake addresses and telephone numbers?
Why is the Minister not categorically assuring the nation that it is not in breach of any international laws on money laundering?
Clarifying whether the Management Fee of 4% is competitive against similar loans?
? Clarification on the double counting of fund allocation against construction projects?
? Was the Ghana High Commission in London involved in the due diligence assessment?
? Why Journalists seemingly have more information than the Minister on the issue.
The government should now realize that it is in danger of becoming a ?lame duck? government since any initiative, announcement or policy has been completely drowned by this issue, and no one now has confidence in anything that the government has to say.
Ghana?s development is intrinsically linked to the proper manegment of the country?s Financial and Economic affairs and MOFEP?s handling of this issue makes MOFEP and the Hon Minister of Finance the main election issue.
Yours In The Service Of Ghana?s Democracy
Nii Armah Akomfrah
Chairman
CPP ? UK & Ireland

After weeks of muddle and chaos surrounding the CNT $300m loan and weeks during which all government business and activity has been overshadowed by the issue, Ghana?s Minister of Finance and Economic Planning ? Hon Yaw Osafo-Marfo called a Press Conference and had an opportunity to lift the doubts and uncertainty around the NPP Government. He had the opportunity to restore credibility to the office of Finance Minister and the Ministry of Finance and Economic Planning (MOFEP)
The Hon. Minister failed miserably in that task and did not address the main issues at the heart of the scandal:
Why the Government of Ghana is seeking loans from Apartment Bedrooms in London?
? Has Joining HIPC meant that Ghana cannot secure loans from reputable Banks or Finance Houses?
Is it indeed a loan or a Suppliers Agreement?
What is the clear identity, location and ownership of CNT Group Holdings Ltd.?
Why did MOFEP?s Due Diligence assessment not pick up the basics of fake addresses and telephone numbers?
Why is the Minister not categorically assuring the nation that it is not in breach of any international laws on money laundering?
Clarifying whether the Management Fee of 4% is competitive against similar loans?
? Clarification on the double counting of fund allocation against construction projects?
? Was the Ghana High Commission in London involved in the due diligence assessment?
? Why Journalists seemingly have more information than the Minister on the issue.
The government should now realize that it is in danger of becoming a ?lame duck? government since any initiative, announcement or policy has been completely drowned by this issue, and no one now has confidence in anything that the government has to say.
Ghana?s development is intrinsically linked to the proper manegment of the country?s Financial and Economic affairs and MOFEP?s handling of this issue makes MOFEP and the Hon Minister of Finance the main election issue.
Yours In The Service Of Ghana?s Democracy
Nii Armah Akomfrah
Chairman
CPP ? UK & Ireland