Ibrahim Mahama Demand Retraction and Apology from Manasseh Azure Over Alleged Debt

Mr. Ibrahim Mahama, a well-known Ghanaian businessman and younger brother of former President John Dramani Mahama, has taken legal steps through his lawyers, the Robert Smith Law Group, demanding a retraction and an unqualified apology from journalist Manasseh Azure Awuni.

The demand follows claims made in Awuni's book, "The President Ghana Never Got," which implicates Ibrahim Mahama in a significant debt to the former Merchant Bank, now known as Universal Merchant Bank (UMB).

Background of the Allegations

The controversy stems from statements in Awuni's book that suggested Ibrahim Mahama was a major debtor of Merchant Bank. According to the book, the alleged debt contributed to financial struggles that led to the sale of the bank in 2013. The book claims that FirstRand Bank of South Africa offered to pay GH₵176 million for 75% of Merchant Bank's shares, while Fortiz, a private equity firm, acquired 90% of the shares for GH₵90 million. It further alleged that Ibrahim Mahama was one of the substantial debtors whose default played a role in the bank's difficulties.

Response from Ibrahim Mahama's Legal Team

In a detailed letter dated August 22, 2024, addressed to Manasseh Azure Awuni, Bobby Banson, Esq., the lead counsel from the Robert Smith Law Group, refuted these claims. The letter clarified several key points:

1. Denial of Personal Indebtedness: Ibrahim Mahama has never been indebted to Merchant Bank or its successor, UMB Bank, either in a personal capacity or for personal use. The letter emphasized that Mr. Mahama never applied for or received any loan from Merchant Bank.

   
   

2. Corporate Loan Details: The letter provided specific details regarding a loan that Engineers & Planners Company Limited, a company associated with Ibrahim Mahama, obtained from Merchant Bank. This loan, amounting to $28 million, was fully repaid in February 2014. The letter stated that this settlement cleared any outstanding debts the company had with the bank.

3. Court Actions and Admissions: The letter disclosed that in 2023, Engineers & Planners Company Limited filed a lawsuit against UMB Bank seeking several declarations, including confirmation that the company had fully repaid its debt. It further revealed that UMB Bank, in its Statement of Defence, admitted that the debt had been fully settled and had instructed the Credit Bureau Agencies to update their records to reflect this payment.

4. Impact on Reputation: The letter from Mahama’s lawyers contended that the publication of these unverified claims has caused significant damage to Ibrahim Mahama’s reputation as a credible businessman. It argued that these false allegations have led to unwarranted suspicion and scrutiny from business partners, associates, and the general public, thus undermining his standing within the business community.

5. Demand for Retraction and Apology: The letter concluded by demanding an immediate retraction of the publication in question and an unqualified public apology from Manasseh Azure Awuni. The legal team gave Awuni a seven-day deadline to comply with these demands, failing which they threatened to pursue further legal action without any additional notice.

Possible Legal and Reputational Implications

This legal confrontation has broader implications for the relationship between the media and public figures in Ghana. The demand for a retraction and apology underlines the legal risks that journalists face when reporting on financial and political matters, especially when it involves prominent individuals.

Moreover, this case highlights the thin line between investigative journalism and defamation. If the claims in Awuni’s book are proven to be baseless, it could result in a significant legal and financial setback for the journalist and potentially discourage other media professionals from undertaking similar investigative work.

Broader Context

The case also draws attention to the financial scandals involving banks in Ghana, a sensitive topic given the history of bank collapses and financial restructuring in the country. The initial claims by Awuni seem to fit into a broader narrative of mismanagement and defaulting by influential individuals and companies, which has been a critical issue in Ghana’s banking sector.

Next Steps

With the ultimatum set by Ibrahim Mahama’s lawyers, all eyes will be on Manasseh Azure Awuni’s response. The journalist, known for his investigative prowess, now faces the challenge of substantiating his claims or potentially retracting them to avoid a legal battle. If the matter escalates to court, it could set a significant precedent for how similar cases are handled in the future, influencing both journalistic practices and the legalities in Ghana.

The development is being closely watched by media practitioners, legal experts, and the business community, given its potential to impact the freedom of the press and the limits of journalistic accountability in Ghana.