Government is witch-hunting Ibrahim – NDC

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PRINCE KWASI ADADE (OFIE P33) 8 years ago

SOURCE: CLASSFMONLINE.COM --------- The Economic and Organised Crimes Office (EOCO) has asked Mr Ibrahim Mahama, brother of former President John Mahama, to pay GHC 12.7m to the state by May 8. The amount represents duty for ...
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SOURCE: CLASSFMONLINE.COM --------- The Economic and Organised Crimes Office (EOCO) has asked Mr Ibrahim Mahama, brother of former President John Mahama, to pay GHC 12.7m to the state by May 8. The amount represents duty for goods he cleared at the Tema Port with 44 dud cheques in 2015, plus interest.
ATSUKUOR TEI-WAYO 8 years ago

CHECK ALL FUEL, LANDING & TAKE OFF, PARKING, MAINTENANCE BILLING. METEO, AIR TRAFFIC CONTROL AND WATCHMAN CHARGES APPLY. EVEN INSURANCE AND AIRWORTHY CERTIFICATE MUST CHECKED BY MTTU. THIS GUY MUST HAVE FAILED TO PAY ALL THES ...
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CHECK ALL FUEL, LANDING & TAKE OFF, PARKING, MAINTENANCE BILLING. METEO, AIR TRAFFIC CONTROL AND WATCHMAN CHARGES APPLY. EVEN INSURANCE AND AIRWORTHY CERTIFICATE MUST CHECKED BY MTTU. THIS GUY MUST HAVE FAILED TO PAY ALL THESE BILLS. WE ARE NOT HUNTING WITCHES....WE'VE GOT THE CHIEF WIZARD.
Ghanaba 8 years ago

We will like to know where Ibrahim got funding for his businesses?This is fair questioning because his brother the ex President Mahama hasn't been able to account for billions of dollars and he has been caught issuing governm ...
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We will like to know where Ibrahim got funding for his businesses?This is fair questioning because his brother the ex President Mahama hasn't been able to account for billions of dollars and he has been caught issuing governments checks .
GHANA, MY HOMELAND 8 years ago

Ghanaians will not stop until all what notorious NDC officials stole from Ghanaians. Ibrahim Mahama is under state investigation. It happens all the advanced countries. I don't think Ibrahim Mahama will be sent to jail if he ...
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Ghanaians will not stop until all what notorious NDC officials stole from Ghanaians. Ibrahim Mahama is under state investigation. It happens all the advanced countries. I don't think Ibrahim Mahama will be sent to jail if he hasn't done anything wrong. That is not our president.

Kofi Adams, be ready. If you have nothing to hide, don't be scared. Ghanaians are just retrieving what have been wrongly stole from us by notorious NDC party officials.

NDC thieves like little Kofi Adams must keep their mouth shut for our government to caary its duties and responsibilities. The government owes it to all patriotic Ghanaians.
Insider 8 years ago

Go after them! Criminals. You will find some of the money hidden at ADB Adabraka branch under the holder " FRANK NUHU ALORMASOR!!

Go after them! Criminals. You will find some of the money hidden at ADB Adabraka branch under the holder " FRANK NUHU ALORMASOR!!
OTIKO 8 years ago

NPP AFRAID OF CHALLENGES IN THE NEXT ELECTION DOING ALL TO CRIPPLE NDC WINGS.

NPP AFRAID OF CHALLENGES IN THE NEXT ELECTION DOING ALL TO CRIPPLE NDC WINGS.
Amaliba 8 years ago

Stop dreaming, Ghanaians have wised up now. Propaganda is no longer working to convince people to vote for you. The only people who will vote ffor the party are those with underdeveloped brains.

Stop dreaming, Ghanaians have wised up now. Propaganda is no longer working to convince people to vote for you. The only people who will vote ffor the party are those with underdeveloped brains.
Vinss 8 years ago

Ndc IS BETTER YOU AND ALL CRONIES PAYBACK WHAT YOU ROBBED THE NATION,WERE YOU TO BE STILL IN POWER WHO WOULD DARE REVEAL THE PRESIDENT,S BROTHER ACTS?AND ndc SAYS ACCOUNTABILITY?KOFI ADAMS SHUT P YOUR NOISES NOISE OK

Ndc IS BETTER YOU AND ALL CRONIES PAYBACK WHAT YOU ROBBED THE NATION,WERE YOU TO BE STILL IN POWER WHO WOULD DARE REVEAL THE PRESIDENT,S BROTHER ACTS?AND ndc SAYS ACCOUNTABILITY?KOFI ADAMS SHUT P YOUR NOISES NOISE OK
OMO GHANA PROPER 8 years ago

Why is the NDC always defending the indefensible? Thieves defending thieves?

Why is the NDC always defending the indefensible? Thieves defending thieves?
ken 8 years ago

Still awaiting Govt stance on this man re the stoln monies state funds he took.

Still awaiting Govt stance on this man re the stoln monies state funds he took.

Pusiga Naaba 8 years ago

The ports seizes cars of individuals who could not pay the criminal duties imposed on goods. These goods, especially cars were auctioned for pennies on the dollar to NDC goons. Why do you give Ibrahim 2yrs (2015-2017) to pay ...
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The ports seizes cars of individuals who could not pay the criminal duties imposed on goods. These goods, especially cars were auctioned for pennies on the dollar to NDC goons. Why do you give Ibrahim 2yrs (2015-2017) to pay duties on imported machinery. Explain that to me. All because he is NDC member and also a Mahama. In other words there is a different rule for NDC members at the port and a different rule for the rest of us. Kofi Adams, can you reason constructively. This is typical Tax Evasion and avoidance. Do you know what they do to such people in other countries. Just be honest to yourself for once and advise Ibrahim to be a patriotic citizen and pay his taxes.
Amaliba 8 years ago

JJ , call your stupid boy Kofi Kotokoli Adams to order before we kill him. Ibrahim failed to pay import tariffs on some heavy duty machines he imported. And, he's been asked to pay what he owes according to the law. Why is K ...
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JJ , call your stupid boy Kofi Kotokoli Adams to order before we kill him. Ibrahim failed to pay import tariffs on some heavy duty machines he imported. And, he's been asked to pay what he owes according to the law. Why is Kofi Adams making unnecessary noise. Remember, you killed people for lesser crimes. NDC party is dead and will never resurrect. NDC , the party of crooks, thieves, corruptees and witches and the government will witch - hunt' all the witches to vomit all what they have stolen.
Wanga Sule. 8 years ago

The NDC can say all they want,but Ghana has found them out. The former president younger brother Ibrahim Mahama issued dud cheques to cover import taxes in 1915 and the corrupt NDC government said not a thing.
We will rememb ...
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The NDC can say all they want,but Ghana has found them out. The former president younger brother Ibrahim Mahama issued dud cheques to cover import taxes in 1915 and the corrupt NDC government said not a thing.
We will remember this in 2020.
Amaliba 8 years ago

Yes , we will remember Ibrahim Mahama, Agbesi Woyome and all the 'LOOTEES' CORRUPTEES , Ayariga aka Ayarilies - Ayaribribe, STOLEN CARS and BABIES with SHARP TEETH , AMERI and WITCHES in 2020. Yes, 2020 , it's around ...
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Yes , we will remember Ibrahim Mahama, Agbesi Woyome and all the 'LOOTEES' CORRUPTEES , Ayariga aka Ayarilies - Ayaribribe, STOLEN CARS and BABIES with SHARP TEETH , AMERI and WITCHES in 2020. Yes, 2020 , it's around the corner. FOOLS.
Mety 8 years ago

NDC SUPPORTS CORRUPTION

NDC SUPPORTS CORRUPTION
Sid usa 8 years ago

Call it witch hunting arbitration or anything the question this idiot has dubbed the nation it will soon reach u cry ur own cry

Call it witch hunting arbitration or anything the question this idiot has dubbed the nation it will soon reach u cry ur own cry
Akboat 8 years ago

Kofi Adams will soon be invited by Eoco. Where he did get the money to buy 5 expensive cars. Hope the new government will fight corruption.

Kofi Adams will soon be invited by Eoco. Where he did get the money to buy 5 expensive cars. Hope the new government will fight corruption.
kofi wusu 8 years ago

We shall count on you all 1 by 1 to fill the Nsawam prison aboa ba kofi adams. ko na ko shi pu.

We shall count on you all 1 by 1 to fill the Nsawam prison aboa ba kofi adams. ko na ko shi pu.
JTETTY 8 years ago

SAD GHANA WAS RULED BY MAFIAS. NDC ADAMS HAS DEVELOPED A SLIPE OF TONGUES EVEN THOUGH THE EOCO HASN'T TOUCHED HIM YET. PERSUING A CRIMINAL IS WHAT NDC CALL ' WITCH HUNTING?? WHEN FORMER PRESIDENT J J RAWLINGS CONDEMNING NDC F ...
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SAD GHANA WAS RULED BY MAFIAS. NDC ADAMS HAS DEVELOPED A SLIPE OF TONGUES EVEN THOUGH THE EOCO HASN'T TOUCHED HIM YET. PERSUING A CRIMINAL IS WHAT NDC CALL ' WITCH HUNTING?? WHEN FORMER PRESIDENT J J RAWLINGS CONDEMNING NDC FOR NOT FIGHTING CORRUPTION HE WAS ACCUSED FOR CAMPAIGNING FOR NPP. JJ HAS NO HANDS IN THE NDC 2016 ELECTION DEFEAT. THEY SUFFERED THE DEFEAT BCOS GHANAIANS WERE WITNESSING THE NDC ADMINISTRATION WAS CORRUPT.
kaketonti 8 years ago

THIS NPP GOVT IS AIMLESS.
NPP IS JUST OCCUPYING SPACE AND DISTURBING THE PEACE IN/OF GHANA.

THIS NPP GOVT IS AIMLESS.
NPP IS JUST OCCUPYING SPACE AND DISTURBING THE PEACE IN/OF GHANA.

WIN 8 years ago

Where is your stupid head? Did you ever go to school to learn? You are a waste product!

Where is your stupid head? Did you ever go to school to learn? You are a waste product!
anna 8 years ago

Hey kofi adams I don't know that you are
out of your mind and a big fool.How can u say that the new government is doing witch hunting.3 years ago my sister brought in a Mercedes + Man trucks to tema port and she was not ab ...
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Hey kofi adams I don't know that you are
out of your mind and a big fool.How can u say that the new government is doing witch hunting.3 years ago my sister brought in a Mercedes + Man trucks to tema port and she was not able to pay for the duty on the two trucks.A letter was written to the Customs,that she would like to pay for one truck and later pay for the other in kredit bassis and the Custom did not agree.Behold the remaining truck was auction and sold cheap to one of ndc top man.I just want to ask kofi adams this question;Is Ibrahim Mahama diffrent or what?What kind of evill game you ndc politicians playing.Ibrahim has to pay the money or his property confiscated and auction them like they did to my siter.The law at the Port is for us all,period.
AWARA GH 8 years ago

KOFI ADAMS YOU ARE ALWAYS FOOLING ALL THE TIME.. IF GOVERNMENT IS WITCH HUNTING IBRAHIM AND SO WHAT.. IS IT ILEGAL FOR GOVERNMENT TO COLLECT HIS TAXES FROM THE CRIMINAL WHO INTENDED TO DOPE GOVERNMENT WITH HIS DUD CHECKS.. YO ...
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KOFI ADAMS YOU ARE ALWAYS FOOLING ALL THE TIME.. IF GOVERNMENT IS WITCH HUNTING IBRAHIM AND SO WHAT.. IS IT ILEGAL FOR GOVERNMENT TO COLLECT HIS TAXES FROM THE CRIMINAL WHO INTENDED TO DOPE GOVERNMENT WITH HIS DUD CHECKS.. YOU ARE NOW TALKING ABOUT WITCH HUNTING.. NDC U PEOPLE ARE MAD..
AWARA GH 8 years ago

NPP IS TEACHING U SENSE AND THE RULE OF LAW.. THIS IS NOT A IGNORANT PARTY WHERE EVERYBODY DEY JOB GHANA MONEY JUST LIKE THAT WITHOUT WORKING FOR IT.. U PEOPLE WILL BE JAILED ONE AFTER THE OTHER.. STUPID PEOPLE..

NPP IS TEACHING U SENSE AND THE RULE OF LAW.. THIS IS NOT A IGNORANT PARTY WHERE EVERYBODY DEY JOB GHANA MONEY JUST LIKE THAT WITHOUT WORKING FOR IT.. U PEOPLE WILL BE JAILED ONE AFTER THE OTHER.. STUPID PEOPLE..
Nkrumah 8 years ago

Since when did Ibrahim become NDC ? just when his brother became president and he is even not a politician.

Since when did Ibrahim become NDC ? just when his brother became president and he is even not a politician.
KANTAMANTO. 8 years ago

It is a shame that people like Kofi Adam in NDC are always willing to steal from the government.How can some one who issued a dug checks to clear cars from the Ports more than a year, with out paying should be allowed to go ...
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It is a shame that people like Kofi Adam in NDC are always willing to steal from the government.How can some one who issued a dug checks to clear cars from the Ports more than a year, with out paying should be allowed to go free? Don't you have brain? Do you think at all. How can this be witch-hunting. You are not serious and always speaking from your stomach and defending thieves.
SHAME UNTO YOU KOFI ADAMS AND N.D.C. THIEVES.
Nack 8 years ago

Kofi Adams are you aware of what is going on or you just want your voice to be heard,
that word witch-hunting is a glorious word for opposition,
it is your turn very soon watch your back you think Nana Adow is a joke like M ...
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Kofi Adams are you aware of what is going on or you just want your voice to be heard,
that word witch-hunting is a glorious word for opposition,
it is your turn very soon watch your back you think Nana Adow is a joke like Mahama.
George Nutsugah 8 years ago

John Mahama is a thief and Ibrahim Mahama is a criminal. I suspect that their family has had a history of stealing and other criminal activities for a long time. It is something in the family.

John Mahama is a thief and Ibrahim Mahama is a criminal. I suspect that their family has had a history of stealing and other criminal activities for a long time. It is something in the family.
Ko. 8 years ago

You have to let the man or his lawyer(s) speak and not politicians.

You have to let the man or his lawyer(s) speak and not politicians.
mmoafunu 8 years ago

Just four months in opposition, listen to what the imbecile Kofi Adams is telling Ghanaians.We were in this country where many vehicles were auctioned to the NDC sympathizers because the owners could not get money to clear th ...
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Just four months in opposition, listen to what the imbecile Kofi Adams is telling Ghanaians.We were in this country where many vehicles were auctioned to the NDC sympathizers because the owners could not get money to clear them on time.At that same period Ibrahim Mahama was clearing his with dud cheques.Is he above the law?This is just the beginning of more worst things to come.Nana will very soon expand Nsawam prison to pave way for create,loot and share NDC gurus to be imprisosoned.

Tijani 8 years ago

You defraud the state and call this witch hunting? How many Ghanaians are allowed to clear goods with 44 dud cheques? Since 2005, what is the life of a cheque? Stop the insane arguments and credit Ghanaians with some intellig ...
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You defraud the state and call this witch hunting? How many Ghanaians are allowed to clear goods with 44 dud cheques? Since 2005, what is the life of a cheque? Stop the insane arguments and credit Ghanaians with some intelligence. NDC/President's brother and so what? Give us a break.
Albert 8 years ago

Kofi Adams very soon you will be witched hunt.

Kofi Adams very soon you will be witched hunt.
Mr Bond 8 years ago

Kofi Adams need psychiatric treatment for he is not rational thinking human being.

Kofi Adams need psychiatric treatment for he is not rational thinking human being.
SAY THE TRUTH 8 years ago

THIS IS THE MAFIA GANG OF THIEVES, STEALERS, ROBBERS OF THE STATE AND CONMEN DUPING THE STATE AND THY COME OUT SUPPORTING ONE ANOTHER CRYING WOLF AND WITCH-HUNTING WHEN THE LAW TAKES ITS COURSE!!!!

GANG OF THIEVES CRYING ...
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THIS IS THE MAFIA GANG OF THIEVES, STEALERS, ROBBERS OF THE STATE AND CONMEN DUPING THE STATE AND THY COME OUT SUPPORTING ONE ANOTHER CRYING WOLF AND WITCH-HUNTING WHEN THE LAW TAKES ITS COURSE!!!!

GANG OF THIEVES CRYING FOUL!!!
NPPigs 8 years ago

How can one person alone issue 24 bad cheques? Initially, I was also of the opinion that he is being witch-hunted then I read that this has gone on for 24 different times! Does that sound right to you, spineless Kofi Adam?
...
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How can one person alone issue 24 bad cheques? Initially, I was also of the opinion that he is being witch-hunted then I read that this has gone on for 24 different times! Does that sound right to you, spineless Kofi Adam?

It may be true that in reality he is being witch-hunted by the NPP but it beats my imagination that he did the wrong thing 24 fucking times!
Uncle Pee 8 years ago

Why do NDC folks always defend the lawless folks? This is shameful!!! This Ibrahim guy bounced 24 checks and is still walking around. He should be behind bars.

Why do NDC folks always defend the lawless folks? This is shameful!!! This Ibrahim guy bounced 24 checks and is still walking around. He should be behind bars.
James Osei Kofi 8 years ago

Give a dog a bad name and hang it

Give a dog a bad name and hang it
Akita 8 years ago

Kofi u are fool if im like u i will mnot talk

Kofi u are fool if im like u i will mnot talk
Ben 8 years ago

I also want to hunt them.

I also want to hunt them.
Kabena Ogyam- USA. 8 years ago

Was Kofi Adams really a Teacher? I pity the students he taught. He did gave them dity apo. He should take his time to read to broad his knowledge before making contributions on issues. My brother do take this advice and it wi ...
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Was Kofi Adams really a Teacher? I pity the students he taught. He did gave them dity apo. He should take his time to read to broad his knowledge before making contributions on issues. My brother do take this advice and it wii help you.
Ice-cool 8 years ago

Ibrahim mahama will soon be jail.

Ibrahim mahama will soon be jail.
J J PETER 8 years ago

IF YOU ARE NOT A WITCH ,YOU WILL NOT BE HUNTED AND AS WE KNOW WITCHES ARE NOT GOOD PEOPLE , THEY MUST BE HUNTED AND BE ELIMINATED

IF YOU ARE NOT A WITCH ,YOU WILL NOT BE HUNTED AND AS WE KNOW WITCHES ARE NOT GOOD PEOPLE , THEY MUST BE HUNTED AND BE ELIMINATED
Klutse 8 years ago

Witches are not hunted where there is none. They are hunted where they exist. Ibrahim clearly abused his brother's Presidential powers to impose his will on the state. That is witchery, and it is fair to hunt it.

Witches are not hunted where there is none. They are hunted where they exist. Ibrahim clearly abused his brother's Presidential powers to impose his will on the state. That is witchery, and it is fair to hunt it.
Kwame 8 years ago

He is a count if a crook just like his ex president brother ...did chqs - free credit "see my brother" in 2016 ...get lost ...ghc25 firv3 days work ...ameri contract crooks AMERI POWER It's simple , the recent committee trip ...
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He is a count if a crook just like his ex president brother ...did chqs - free credit "see my brother" in 2016 ...get lost ...ghc25 firv3 days work ...ameri contract crooks AMERI POWER It's simple , the recent committee trip 1) pure conflict of interest and pure corruption 2/ just read Full story on Norwegian newspaper Verdens Gang ....again PURE corruption and bribery ...foolish shameful NDC . after bribing everyone to go on a visit to review the contract ....one minute going to negotiate now no negotiate ........they set the company up to SCREW Ghana the world is laughing at Ghana ...how many other multi million dollar contracts have AMERI ACHIEVED...ZERO how many other contracts has that crook His Royal Highness Sheikh Ahmed Bin Dalmook Al Maktoum, received a deal of $150 million commission ZERO ... why did the witness a known crook UMAR FAROOQ ZAHOOR witness contract then they say no no no he is not the crook he is s different man then a few days later he is removed ftom web site and resigned for personal reasons . Full story on Norwegian newspaper Verdens Gang (VG so corrupt bribery greedy NDC just screwed Ghana so CONTRACT is a FRAUD GET them all arrested for loss to state ...if nothing happens then NPP HAS ACCEPTED A BRIBE TO shut up? Now they have paid the committee hotels expenses and flights to investigate ....conflict of interest!!! (More bribes) apart from all the other going on from that EVIL corrupt ex president mahama ()EVERY ONE INVOLVED IN BRIBE-corruption PAST AND PRESENT WATCH THEM TALK RUBBISH TO CLOSE THE CONVERSATION DOWN

Source imani-
Friends, do not take the silence of AMERI’s supporters on this platform and in the open media to mean aloofness or nonchalance.
They have been hard at work, especially on WhatsApp and in private briefings, doing all they can to discredit IMANI’s campaign to persuade the public to view the deal as the “greatest swindle of the Ghanaian state in at least two decades”.
Since our responses have been fragmented across different posts, discussion threads, and ripostes across multiple platforms, we have been advised to assemble them all in one place in order to vindicate our campaign. We now have the pleasure and duty to proceed to do so.
Let us take just the main arguments that are being canvassed by pro-AMERI activists.
They have said that IMANI’s analysis of the financial terms of the deal is shallow because it assumes that such a deal can only be assessed in one way, when in fact different methods can show that it is a very fair deal.
IMANI is underestimating the cost of installing the turbines and exaggerating the profits made by the middle-men (brokers) because it does not understand IRR, NPV, and Discount Rate analysis, they insist.
How do we plead to this charge? Firstly, no one, at least, disputes the cost of the TM2500+ mobile aeroderivative gas turbines that were bought (in actual fact, the TM2500+ is the composite ‘power plant in the box’; the turbine itself in that box is the LM2500 aeroderivative engine).
And that is because no one can. Right there in Annex A to the agreement, its supplier and specifications are fully provided. The machine was acquired from APR, a recommended supplier of GE, by the brokers. APR openly lists the price of these machines. There is thus no dispute that the machines together cost $220 Million, and most likely less if bought in bulk.
As to why Ghana had to go to AMERI for AMERI to go to METKA for METKA to go to APR in order to acquire GE equipment, let’s leave that aside for now. Anybody with the most basic training knows that if something costs $22 million each and you want to acquire ten of them you would normally be entitled to a discount.
You can prove the point by walking to Kingdom Stationery and ordering 10 workstations at a go. I assure you a 15% discount off the catalogue price would be yours, but let’s even assume that the original procurers were obtuse enough to pay $220 million.
(Indeed in the World Energy Outlook database, per MW capital cost for gas turbine power is $500,000, so the $900,000 implied by the catalog price is precisely what you expect to see at catalogue price level, but let’s not over-flog the point.)
The $220 million is the engineering cost. Everyone knows that even if a machine, such as this one, has been designed as turnkey (literally, buy today, turn the key, and voila it starts working) one still need specialists to install, test and then commission it.
One also needs to plug it into whatever network is supposed to receive the output the machine generates. Also if somebody buys something on your behalf they deserve to be paid what in Ghana is called T&T.
Note however that in this case, unlike the case in a normal power plant, all that was needed was to integrate the turbines with the national grid equipment.
In fact, GE offers to install the machines for you in eleven days or even three days if as a user you don’t need a test run! You don’t have to have more than a JHS education to understand that what we are talking about here is not the building of Akosombo dam and township.
It is literally assembling a bunch of gizmos for cooling, firing up, and transmission of the generated power into the national grid.
As far as the transformers, civil works, utilities and sewers/tubing/tunnelling are concerned, Government of Ghana was responsible for bearing that cost. Supposing you bought a generator plant for installing in your factory for $22,000.
How much will you pay to install it? In Ghana’s case, continuing this analogy, we paid $14,000 because somehow we felt that even that part of the project should be handled by someone else and be billed as additional. But that is not even the main quarrel here.
Many anti-AMERI activists are not even taking the deal makers to task for paying $140 million on top of the $220 million to install a plant that from our analysis of several deals involving a EPC contractor cost of procurement, installation and commissioning almost never cross 10% of the total cost.
We are tearing our hair out because the government then went ahead and paid AN ADDITIONAL $150 million on top of things, citing something called ‘NPV analysis’ and ‘Balance of Plant’.
Yet, all one has to do is take a look at Annex E of the agreement and it is clear that the main core of this ‘balance’ that needs to be added to the turbines for the system to be complete and operational comprises merely of the exhaust module, the air intake nozzles and the data logging platform in the control room, all of these being assembly units clearly stated as standard and pre-packaged with the turbines!
All that is required, external to the weatherproof package and its trailer mounts, and in lieu of a complex structure, is the piping for coolant and fuel filtration and transmission.
So the “balance of plant” essentially refers to the fuel and coolant (‘demineralised water’) storage and dispensing system/controls that can be acquired for a few hundreds of thousands of dollars; and the earthing and electrical cabling works.
We are not talking here about giant buildings; or treatment systems; fire control was provided; ventilation is integrated, as is instrumentation; and security and fuel logistics handling is minimal because the plant is housed at the existing Takoradi Thermal Power station and shares its facilities.
And at any rate, the government of Ghana was billed separately for civil works, drainage and sewerage etc! So what serious ‘balance of plant’ are we talking about here exactly?
For a project that the manufacturer of the system says can take between 3 and eleven days from start to finish, we decided that for the work done in acquiring the plants and installing them (EPC), we will pay the brokers 65% of the total equipment cost due to our unwillingness to procure our own financing and then hire any EPC contractor for a few hundreds of thousands of dollars to commission the plants.
Anti-AMERI activists are willing to accept this $140 million dollar charge as pure financing costs (since the engineering, procurement, construction and commissioning activities in this project are hardly of serious note).
And had we left things there, the NPV analysis using an 8% discounting rate would have netted a decent aggregate profit of $72 million cool profit for the dealmakers, showing a 32% return in 5 years. Indeed, readers are welcome to take a look at how reasonable this rate of return is in a period of serious constraint in the energy plant financing industry. It is important to bear in mind when reviewing these calculations that cashflow from the investment is assured on a monthly basis; a graduated interest rate structure is required to fully appreciate the fixed cashflow; AMERI sought and secured exemptions from ALL domestic taxes in relation to the project; we are in a period of unprecedented low global interest rates; and there is a standby letter of credit to cover any defaults under every conceivable scenario in the one-sided agreement that was foisted on the Government of Ghana. AMERI enjoyed all of this PLUS a Performance Bond too (yes).
In fact, under the agreement, AMERI gets paid whether or not fuel from the government to produce electricity is forthcoming, and regardless of faults in the national grid.
It is easy to see how generous the deal at this level would have been when one benchmark against reference data globally.
The discount rate in Turkey itself is 5.25%. But the Ghanaian dealmakers felt that such prudence would not earn them any applause for being spectacular. So they upped the ante, and agreed to an additional $150 million on top of this for AMERI.
The party that did not procure the equipment, install a pipe, or turn even a valve on, but rode on the back of METKA and APR to secure the equipment and on PPL and Engineers & Planners to install and turn it on, gets a cool $122 million in NPV terms just for having swag! Frankly, that is where NPV analysis leads us.
And it sure as night follows day exonerates no one. In fact if we use as the discounting rate the cost of borrowing in the local USD credit market and compute the NPV of the margin for AMERI on the deal (relying on our generous EPC project value of $250 million), we get exactly $150 million! That is precisely the amount we overpaid if we measure against the alternative of borrowing from a consortium of local banks to buy the plant outright and getting the authorised supplier, APR, to install and commission. Any which way pro-AMERI analysts dice this, a $150 million loss cannot be argued away. For further clarity, see below a table providing comparative lending rates for various projects in the energy sector. But pro-AMERI analysts seem to believe that they have one ace up their sleeves. In some of the briefings, we have seen the argument appears to be that AMERI is producing cheap power and that cannot be the case if the capital cost of the plant is bloated (though as you can see from the other table attached, the capital cost is indeed the highest in Ghana). Fair point: how can an exorbitantly priced machine produce cheap trinkets? When some of us first heard this argument, frankly, we thought it was a joke. On top of selling the machines to Ghana at an exorbitant price and compelling us to provide fuel to power it, AMERI then went ahead and inserted a cool 0.5 US cents per kilowatt hour charge for the power that we shall be producing from equipment that we are paying for using fuel that we are supplying, netting them a neat $16.6 million a year! And though the agreement says that the plant gets handed over to the Government of Ghana if we keep up with all our payments, they still managed lock the power tariffs in the post-transfer period in an obvious ploy to ensure that even after handing the plant over to us they can still run the show (hence the efforts to get another plant at the Takoradi Power Station handed over to them). The combined tariff of 62 pesewas per kilowatt-hour that AMERI itself discloses in the agreement may be compared with the 2016 August Bulk Generation Charge that PURC has allowed other power plants in Ghana to charge on average: 35.97 pesewas! AMERI is thus, in fact, nearly 75% more expensive than the average power plant in Ghana. And we haven’t even factored in the cost of fuel. Consider that without a revision of the agreement, AMERI will be operating what is, in essence, a separate price-gouging regime in the country, in defiance of the PURC, that shall see Ghanaians paying almost twice for its power if we don’t act soon to shave off some of the $102 million a year it has managed to squeeze out of our diffident State. In view of all the foregoing analysis, IMANI’s simple view is that the Government of Ghana should not relent until it has managed to shave off two million dollars from each monthly payment. Duty calls on every Ghanaian to join this campaign
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Frimpong 8 years ago

N.D.C national organizer kofi Adams l think he don't know what he is saying

N.D.C national organizer kofi Adams l think he don't know what he is saying
Frimpong 8 years ago

N.D.C national organizer kofi Adams l think he don't know what he is saying

N.D.C national organizer kofi Adams l think he don't know what he is saying

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Government is witch-hunting Ibrahim – NDC

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