Finance Minister, 3 others sued by Papa Kwesi Nduom

Finance Minister, 3 others sued by Papa Kwesi Nduom

- The minister of finance and 3 others have been sued for none payment of debts

- The debt accrued is more than GH¢19m being the total face value

- According to the lawyers of the fund managers, clients cannot be paid back their investments due to the debt

The Ghana Growth Fund, a subsidiary of Groupe Ndoum, has sued the Finance Minister over debts that have left it unable to pay investors’ funds.

The Attorney-General, Minister for Roads and Highways and Agyakot Company Limited, were also included in the suit.

Lawyers for Ghana Growth Fund Limited, are demanding the recovery of more than ¢19m being the total face value of the accrued but unpaid interim payment certificates due the fourth defendant, Agyakot Company.

READ ALSO: John Dumelo leads demo against Akufo-Addo

Speaking to counsel for the Ghana Growth Fund Limited, Justice Srem-Sai, said their clients have been stretched thin.

"It was never our first choice to go to court but unfortunately, if all other approaches don’t work, we are entitled to go to court. Because of this default from government and the contractors our client is also finding it a bit difficult to honour its obligations towards its depositors,” the lawyer said.

Gold Coast Fund Management has been in the news for its inability to pay clients’ invested capital and the interest accruing on same.

READ ALSO: I am gutted by the exit of the Black Stars at AFCON 2019 - Akufo-Addo

In other news, President Akufo-Addo has expressed his disappointment following the Black Stars’ exit from the 2019 African Cup of Nations.

The Black Stars failed to go past Tunisia after losing 5-4 on penalties following a 1-1 draw after 120 minutes of football.

As Ghanaians are weeping over the team’s loss, so is the first gentleman of the land.

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Source: Yen

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