Skip to main content

University of Ghana to ‘cough’ $160million for Africa Integras

The University of Ghana is said to have lost an arbitration in London in relation to the Africa Integras Project and therefore expected to pay $160 million to Africa Integras as termination costs.
In July 2014, under the leadership of the then Vice-Chancellor, Prof. Ernest Aryeetey, the University of Ghana entered into a contract with Africa Integras, a private investment company with headquarters in New York, to construct five buildings for the university on a Build Operate and Transfer (BOT) basis.
The project was to consist of the construction of an expanded facility for the College of Humanities, a complex for the new College of Education, a new building complex for the College of Basic and Applied Sciences, a complex to house the Institute of Technology and Applied Science and a building for the College of Health Sciences to aid the university in relocating the medical school to the UG campus from its present location in the Korle Bu Teaching Hospital.
The project was structured as a 25-year Build, Operate and Transfer (BOT) contract but when the leadership of the university changed in January 2016, the new Vice-Chancellor, Professor Ebenezer Oduro Owusu sanctioned the project, citing issues with viability and favourableness with the project contract.
The $64 million infrastructure project then came to a standstill due to the disagreement between the current Vice-Chancellor (VC) and his predecessor over the viability of the project.
The matter then went for arbitration in London.
UG lose at London Arbitration
Graphic Online has gathered that the Arbitrator in the dispute between the University of Ghana and the project developers in what is generally described as the “Africa Integras project”, made a definitive and binding ruling in London on August 2, 2018.

 The ruling is said have dismissed the two claims by the University of Ghana and awarded termination costs of more than $160 million to the project developers.
The Arbitrator is said to have rejected the UG argument that the Concession Agreement signed by the two parties was not enforceable.
The 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 is said to have found nothing wrong with the process followed in preparing the Concession Agreement and concluded the project had been approved by the University Council in July 2014.
The ruling in London delivers a huge image blow to the University of Ghana and possibly a major financial loss to Ghana.

SOURCE:http://www.adomonline.com

Comments

Post a Comment

Popular posts from this blog

You are killing us with your one round sex – Queen mother to men

Many women are aging in the Central region due to lack of sexual satisfaction, Paramount Queenmother of Mankessim Traditional, Nana Ama Amissah has said. According to her, men in the region are killing the women with their one round of sex-a situation she described as worrying. In an interview on Adom News Thursday, the Mankessim queenmother revealed that, many marriages are collapsing due to the men’s inability to satisfy their wives in bed. “Most of these women are committing adultery just to satisfy their sexual pleasures” she added. The development, Nana Ama Amissah who is also the President of the Central Regional Queen Mothers Association is causing a lot of problems. She however cited prostate cancer is a major contributory factor for the low sex drive in the men. Nana Ama Amissah therefore charged the men to do regular checkup to ensure they are free from the disease. SOURCE: http://www.adomonline.com
12 comments
Read more

Respect ban on corporal punishment – GES warns teachers

The Ghana Education Service [GES], has warned that teachers in both private and public schools who inflict Corporal punishment on students would be appropriately dealt with per the guidelines of the service. In a statement signed by the Director-General of Ghana Education Service, Jacob A. M. Kor,  he said “it has come to their notice that the ban on corporal punishment is not being enforced in schools.” “We wish to indicate that Corporal punishment in our institutions is illegal and would not be tolerated in any form” The Service explained that “The directive is in accordance with the United Nations Convention on the right of the child (CRC), which was corrected in Ghana in 1990, and the Children’s Act of 1998 m(Act 560). “We strongly advise that teachers, Educational Workers and staff of Public and Private would continue to exhibit the best professional conduct throughout the entire process of educational service delivery to pupils and students, without having to ...
Post a Comment
Read more

Marry your fellow men if women are evil – Leila Djansi

Moviemaker, Leila Djansi has asked men to marry their fellow men. According to her, men have always argued that women are imperfect and evil. But reacting to such claims by men, she indicated that if men want perfection, they should marry each other. She said “If women are evil and unnecessary, why don’t men just marry their fellow men since y’all are pure and important?  Put two perfect people together. That will solve these issues”. SOURCE: https://mynewsgh.com
Post a Comment
Read more