University of Ghana slapped with a $160 million judgement debt

University of Ghana slapped with a $160 million judgement debt

- An International court has slapped a $160 million judgement debt on the University of Ghana

- This was with respect to a $64 million contract with Africa Integras Project to construct beds for students

- The project was structured as a 25-year Build, Operate and Transfer (BOT) contract.

An International court has reportedly awarded a judgement debt of $160 million against the University of Ghana, Legon.

Information available to YEN.com.gh shows that this is in respect of a contract with Africa Integras Project to construct 1000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus.

The University of Ghana was charged with unfairly terminating a contract that was started during the tenure of its former Vice Chancellor, Professor Ernest Aryeetey.

A man wearing a suit

Professor Ebenezer Oduro Owusu, Vice Chancellor, University of Ghana, Legon

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The ruling dismissed the two claims by University of Ghana and awarded termination costs of more than $160 million to the project developers, Africa Integras Project.

The University, in the year 2014, entered into a Public Private Partnership (PPP) agreement with Africa Integras to invest US$64 million in the construction of 1,000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus.

The project was structured as a 25-year Build, Operate and Transfer (BOT) contract.

But after the change of leadership in 2016, the new university council raised questions about the deal, particularly relating to the overall cost to the University.

Prof. Aryeetey however insisted the processes leading up to the signing of the agreement with Integras were transparent, with all relevant stakeholders being kept informed of all developments.

The Arbitrator, however, did not accept the university’s argument that the Concession Agreement signed by the two parties was not enforceable.

University of Ghana had sought to present the agreement as not being enforceable, claiming that its own procedures followed in preparing the Concession Agreement were flawed and did not follow due process.

The Arbitrator however found nothing wrong with the process followed in preparing the Concession Agreement.

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Source: Yen.com.gh

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