Edudzi Tamakloe: $134M Judgment Debt: Triggered by Akyem Family Feud

The Director of Legal Affairs for the opposition National Democratic Congress (NDC), Mr. Godwin Edudzi Tamakloe, has claimed that the termination of the Power Purchase Agreement (PPA) between the Government of Ghana and Trafigura, represented locally by the Ghana Power Generation Company (GPGC), was the result of an internal family feud within the Akyem clan.

According to Mr. Tamakloe, the dispute involved Mr. Edward Akufo-Addo, known as Bumpty, a brother of President Nana Addo Dankwa Akufo-Addo, and Damian Duncan, the Country Representative of GPGC, who is also a nephew of the President.

 He explained that prior to President Akufo-Addo assuming office in 2017, Mr. Duncan had a conflict with Bumpty over a family land issue, which led to Bumpty's arrest by the Cantonments Divisional Police Command in Accra.

Mr. Tamakloe suggested that this incident was the catalyst for the government’s decision to abrogate the PPA with GPGC, viewing it as an act of retribution against Mr. Duncan. 

He shared these insights during an appearance on The Citizen’s Show, hosted by Kwabena Bobie Ansah on Accra 100.5 FM on Thursday, August 22, 2024.

In the wake of the terminated contract, Trafigura’s Ghana Power Generation Company (GPGC) has taken control of Ghana's Regina House in London after the Ghanaian government failed to pay a $134 million judgment debt awarded by a UK tribunal. 

This debt arose from Ghana’s unilateral termination of the PPA in 2018. 

Despite efforts by Trafigura to recover the payment, Ghana only made partial payments, prompting GPGC to secure an additional U.S. court judgment, which added $111.4 million in interest to the outstanding debt.

Ghana's Attorney General has stated that it is now the responsibility of the Finance Ministry to expedite the payment.

 Meanwhile, Ghana’s High Commissioner to the UK has confirmed that Trafigura will retain control of Regina House and its associated revenues until the debt is fully settled