Woyome Closes Case

Alfred Agbesi Woyome the National Democratic Congress (NDC) financier

Alfred Agbesi Woyome the National Democratic Congress (NDC) financier



Alfred Agbesi Woyome the National Democratic Congress (NDC) financier hauled before an Accra high court  for causing financial loss to the state to the tune of GH¢ 51.28 million, yesterday closed his case.

Justice John Najet-Assam, the trial judge in the case, announced that ‘proceedings in this matter have come to a close’ when the case was called, and thanked both parties for their co-operation.

Osafo Boabeng, counsel for Woyome, had not indicated that his client had any witnesses he (counsel) wanted to testify so the case was closed.

Justice Najet-Assam consequently asked both parties in the case – the State and Woyome – to apply for the proceedings and return to court on December 12, 2014, for confirmation of proceedings.

The matter was then adjourned to the said date.
The accused person, under cross-examination by Mrs. Yvonne Obuobisa, a State attorney, at the last hearing, said the Special Purpose Company set up to manage the loan processes was 85% commercial and it was meant for government to pay 85% of the loan which he (Woyome) described as the cheapest loan in the history of sub-Saharan Africa.

When Mrs. Obuobisa put it to him that it was deliberately drafted to make government borrow 85% of the loan, he said it was not the first time he was facilitating a loan contract for the government.

He denied that he based his claims on non-existent figures in his petition to the former Attorney-General, Betty Mould Iddrisu, and said it was based on the conditionalities.

The State attorney put it to the accused person that the Dosoo Committee advised government to look for its own funding in view of the time left for the organization of  the Confederation of African Cup (CAN), to which Woyome responded that that was the reason why he arranged a bridge funding.

Under cross-examination at the last hearing, the businessman claimed that the contract between the Government and Shanghai Group was not signed in Ghana but in Shanghai by then Ghana Ambassador to China.

He said the bid process was continuing when the former President, John Agyekum Kufuor, left for China to meet the Shanghai Group; and when the State attorney put it to him that it wasn’t true, Woyome said he had tendered documents in court on it.

When asked who the guarantor of the over €1 billion loan he claimed to have financially engineered for the stadia construction for the CAN 2008 tournament was, he said it was Multilateral Investment Guarantee Agency.

Ms Obuobisa put it to the businessman that it was because the process of securing the loan for CAN 2008 was too lengthy why the Government did not opt for it.

Woyome in response said the Government was given two options which according to him, were that the loan process would be expedited or there would be bridge financing using the then Merchant Bank.

In addition, the accused person said the letter of support from Bank of Austria was based on the condition that nobody would be awarded the contract until there was proof of funding.

  By Fidelia Achama

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