Official letters from the Ministry of Energy and Petroleum intercepted by Joy News indicate that the Board and the Chief Executive of Ghana National Gas Company were officially informed about the takeover process.
This is in sharp contrast to claims by the Board Chairman, Dr. Kwesi Botchwey that the board has not officially been informed of the takeover by the Ghana National Petroleum Corporation, contesting media reports that the process has been concluded.
He, however admitted to a statement from the Finance Minister pointing to the appointment of the transaction advisor.
“We are also yet to receive any written indications from either the Minister for Finance or Minister for Energy on the takeover decision and the way forward as the Company prepares to meet the Transaction Advisor,” Dr. Botchwey said.
But a letter from the Energy and Petroleum Ministry signed by the sector minister, Emmanuel Armah-Kofi Buah, addressed to the Chief Executive Officer of Ghana National Gas Company, copied to Dr. Botchwey, officially informed Ghana Gas about the transfer of government's shares in the company.
The letter dated 9th December, 2014 was under the subject: “Transfer of Government of Ghana's shareholding in Ghana National Gas Company to the Ghana National Petroleum Corporation”.
“I hereby write to officially notify GNGC of the said transfer, as was communicated at the meeting under reference. Please be advised accordingly,” the letter read in part.
The letter spelt out, “At a meeting held today Tuesday 9 December, 2014, at the Ministry of Energy and Petroleum with the Board Chairman and Company Secretary of Ghana National Gas Company (GNGC), the Board Chairman and two Board Members of Ghana National Petroleum Corporation (GNPC), and the Chief Executive Officer of GNPC, I informed the Board Chairman and Company of GNGC that GoG has transferred its entire stake in GNGC to GNPC.”
The letter also referred to an earlier letter to the GNGC on the same subject dated 3rd December, 2014.
Subsequent to the 9th December letter, another letter from the Ministry to the CEO of GNGC again copied to the Board Chairman stated, “Pursuant to this policy decision, GoG has appointed PricewaterhouseCoopers (PwC) as Transaction Advisor, to oversee the GNGC transfer process and assist with the successful integration of GNGC into GNPC.”
The latest letter was dated 10th December, 2014. Story by Ghana | Myjoyonline.com| Isaac Essel | [email protected] | twitter @isaacessel
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