Home   >   Business   >   Business News   >   201511
I Regret Lobbying For The Sale Of Akwatia Mines Baba Jamal   
 
  << Prev  |  Next >>
 
11-Nov-2015  
Comments ( 0 )     Email    Print
       
 
 
 
 
Related Stories
 
Member of Parliament (MP) for Akwatia in the Eastern region, Baba Jamal has expressed regret for his role in the sale of the Ghana Consolidated Diamonds Limited (GCD).

Speaking on Adom FM Wednesday, a worried Mr. Jamal explained that GCD was put on divestiture in 1989 by the then PNDC Government and Marigold Limited eventually won the bid.

Marigold Limited struggled to get the mine on its feet again, and GCD was placed back on the divestiture list in 2000, but the change in government occurred made it difficult for the company to be divested.

He stressed that the company was later divested to a company called Sappers Company but the company could not operate, leading to its closure in 2006.

The Jospong Group bought the mine in 2011 for $17.4 million, paying $3.1 million upfront but has since failed to revive the mine or pay its outstanding debt of $14.3 million. The over 50,000 employees have also not received their severance pay.

“I personally lobbied and fought for the company to be divested but I cannot understand why payment has since not been made" he stated. 

Mr. Jamal, who is also the deputy Minister of Employment and Labour Relations, said despite organizing a big stakeholder’s forum on 27th March 2014 to get the situation sorted, the Jospong Group has still not paid up.

Asked by show host Captain Smart when the money would be paid, Mr. Jamal replied: "I am not government to demand payment from them. My work is not in connection with any mines".
 
 
Source: adomonline.com
 
 

Comments ( 0 ): Post Your Comments >>

 
 
 
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
 
 
Featured Video