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March 11, 2005 | General News

Academy Of Film And Tv Arts Wants Takeover Of Gama Films

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The Ghana Academy of Film and Television Arts (GAFTA) has said that the divestiture of the Ghana Film Industry Corporation (GFIC) has done more harm than good to the country's film industry.

To this end, it has appealed to the Government to take over the running of the GAMA Films Company, since TV3 Limited has failed to deliver on the contract terms.

At a press conference to throw more light on the contract terms, Mr Egbert Adjeso, vice-president of GAFTA, said in the supposed joint venture agreement between Ghana and TV3 Company Limited, the Malaysians were to revitalize and recapitalize the GAMA Film Company.

He said the Malaysians reneged on this undertaking and systematically oversaw the dismemberment and disintegration of the GFIC, thereby destroying the base of the film industry in Ghana.

Mr Adjeso alleged that barely a year after they had taken over, the Malaysians, who bought the GFIC for $2 million, advertised it on the Internet for sale at a price of $15 million.

According to him, all laid down procedures for divestiture were violated during the sale of the company. He claimed that documents legalizing the divestiture did not receive Cabinet approval and presidential accent as required by law.

GAFTA, therefore, called on the Government to investigate to find out when the decision to diversify the company was taken, whether it received Cabinet approval, and if an evaluation was carried out.

In addition, GAFTA wanted to know whether the amount of $2 million was agreed upon, how much was paid, where the money was lodged and why barely a year after they took over they offered it for sale on the Internet for $ 15 million.

They also wanted the Government to find out whether TV3 had offloaded its interest to another Malaysian company, contrary to what was in the agreement and how the buy, operate and transfer (BOT) conditions were being adhered to by the Malaysians and their Ghanaian collaborators.

GAFTA is an organisation of film makers determined to hold in high esteem the national heritage through the promotion of a dignifying film and television culture decisively pitched to make the nation proud.

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