Government spokesperson Felix Kwakye Ofosu has provided an update on the Exim Bank loan facility granted to Wontumi Farms, as presented during today’s Government Accountability Studies session led by Dominic Ayine.
According to the Attorney-General, on January 16, 2018, Exim Bank approved a medium-term loan facility of GHC18,734,260.00 following an application by Bernard Antwi Boasiako, chief promoter of Wontumi Farms. The loan included a grant component of GHS 6,768,260.00.
“This offer was accepted via a letter dated January 23, 2018, with Chairman Wontumi acting as the Chief Executive Officer of Wontumi Farms Limited and Thomas Antwi Boasiako serving as director of the company,” the Attorney-General had stated.
The loan approval was subject to the bank’s terms and conditions, with the facility secured against 10,000 acres of Wontumi Farms’ farmland at Asare Nkwanta.
The breakdown of the GHC 18,734,260.00 loan as outlined in the offer letter is as follows: GHS 3,865,000.00 for the purchase of agricultural plant and machinery, GHC 8,101,000.00 for working capital, and the GHC 6,768,260.00 grant designated for staff costs and consultancy fees.
The spokesperson’s update seeks to provide clarity on the structure and purpose of the loan, underscoring that all approvals and conditions were formally documented and legally executed.
