The management of the University of Ghana has debunked reports that it has incurred a $160m judgement debt following a decision by a UK arbitrator.
The management said any such statement was untrue and intended to create panic among the University’s stakeholders.
[contextly_sidebar id=”Vrof12Z9v0KRFEBaL6adNGLi7gXpfBFM”]In a statement issued on August 14, 2018, the management of the school said the story was an attempt to force the University to accept a position on the controversial $64m Africa Integras project that was detrimental to the interest of the University.
Reports that made rounds on social media two weeks ago said the University of Ghana had been slapped with a $160m judgement debt over a decision to cancel a $64m contract with Africa Integras.
According to the story, the company had dragged the institution to court over the matter and a determination on the matter was made in the first week of August in London.
But the University of Ghana has said the story is false.
“The Africa Integras Project, including matters relating to the substantive and procedural merits of the contract, has not been determined by an arbitrator,” the University’s statement said.
“Management of the University of therefore urges calm and assures all stakeholders that it is taking all necessary and reasonable steps to secure the best interest and future of the University of Ghana,” it added.
About the Africa Integras project
Africa Integras entered into the agreement with the University of Ghana in 2014 which was signed by its former Vice Chancellor, Prof. Ernest Aryeetey as structured as a 25-year Build, Operate and Transfer (BOT) arrangement.
The projects involved the construction of an expanded facility for the College of Humanities and a new College of Education.
It was also to construct a new dedicated facility for the College of Basic and Applied Sciences and the Institute of Technology and Applied Sciences, as well as a new facility for the College of Health Sciences.
Africa Integras was also to procure thousands of new students’ hostel beds, to be divided between undergraduate and graduate students mostly to serve the College of Health Sciences.
However, following the exit of Prof. Aryeetey and the swearing-in the new Vice-Chancellor, Prof. Ebenezer Oduro-Owusu, it was alleged that the arrangement by Prof. Aryeetey was not value for money and that something was wrong with it.
It was also claimed that Prof. Aryeetey had received financial inducements to allow the project to proceed since it was economically unreasonable and would cost the University more money.
But Prof. Aryeetey denied the claims, saying the University during his tenure went through all the right procedures before signing the agreement with the company.
By: Jonas Nyabor/citinewsroom.com/Ghana