Kingsley Owusu-Achau
Chief Executive Officer (CEO) of Top Kings Real Estate Developers, Kingsley Owusu-Achau, has called for the immediate revision of the land tenure system in the country.
To Mr Owusu-Achau, a defendant and winner of the Top Kings Enterprise versus Empire Builders Limited (Trassaco) land case, speedy trial of land cases is the surest way to address land litigations in the country.
He revealed that the land tenure system was crippling investment, especially in the real estate business, citing the above mentioned land litigation which started as far back as 1999 as a classical example.
The Top Kings man pointed out the court action initiated by Tricony, placing injunction on an 87 houses (roofing level) project he partnered with HFC Bank went into the drain; consequently driving away his Canadian partners and plunging his company into debt.
Speaking in an interview at his Adabraka office in Accra few days ago, he said, 'The land system should be reviewed now, I mean there should be a speedy trial of cases when lands are involved.
'We have to sell properties to offset our bills because of the court injunction, eventually our Canadian partners pulled out, the project came to a standstill. We won the appeal last year but it has really affected business.
'Trassaco/Villagio has become an empire and as they flourish, we suffer. My brother which project does not involve land? So, I am saying if government could revise the system, it will help a great deal.
'Can you imagine a Canadian investor warned prospective investors to be careful with Ghana especially on issues regarding lands and projects which are not good for us,' he added.
Per the ruling in the Superior Court of Judicature in the Courts of Appeal presided over by Henrietta Abban (Mrs) JA, Acquaye JA and Torkornoo (Mrs) JA all those who bought from Trassaco nullifies their documents.
The Asafoatse of Nungua Traditional Council, Nii Bubui Kakai IV, confirming the ruling said, 'Now the court has made it clear that Trassaco now belongs to Nungua and not Teshie.'
By Kofi Owusu Aduonum
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