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General News Wed, 8 May 2019

Gov’t requests forensic audit into Komenda Sugar factory

Government has ordered a forensic audit into how the Komenda Sugar factory which was at the time of commissioning in 2016 valued at 35 million dollars, devalued by more than 60 percent.

The factory which was constructed with an Exxim Bank loan and inaugurated by former president John Dramani Mahama, was expected to change Ghana’s dependency on sugar imports.

However, it was closed down few weeks after commissioning and has remained closed due to lack of sugar cane for processing.

Few weeks ago the Minister of Trade and Industry Alan Kwadwo Kyeremanten announced to parliament that, that factory is to be handed over to a private investor at the value of 11 million dollars, a decision which has angered the minority in parliament.

But speaking at the Meet The Press Series, on Tuesday, May 7, the trade minister said a forensic audit is currently ongoing adding that officials found culpable will be made to answer.

The minority in parliament have accused government of deliberately devaluing the Komenda Sugar factory in order for it to be sold cheaply.

But the minister of Trade and Industry said that is not the case.

He accused the previous administration of trying sell the factory to a private investor just two months after commissioning.

Mr. Kyeremanten said even at the time the said investors were not willing to pay the 35 million dollars it was valued at.

Source: gbcghanaonline.com