Posted: Thursday 1st May 2014 at 16:00 pm

Kufuor’s Presence At Fortiz/Merchant Re-branding Vindicates Gen Mosquito

A member of the National Democratic Congress (NDC) communication team wants the opposition New Patriotic Party (NPP) to offer an unqualified apology to the ruling party for the insults rained on them in the run-up of the sale of Merchant Bank to Fortiz Equity Fund.

Prior to the take-over of Merchant Bank’s 90% shares by Fortiz for GHC 90 million, members of the NPP, found it extremely intriguing that government could turn down bids from multinational companies which offered a higher sum for a lower percentage shares.

The sale of the bank developed into a running debate and majority of NPP MP’s openly voicing out their views. They raised several points but their centralized message was that the sale of Merchant Bank to Private Equity Fund, Fortiz, was simply a fraudulent deal.

The issue however took a new twist when former President Kufuor and former Chief of Staff, Kwadwo Mpiani graced the official rebranding exercise of Merchant Bank; now Universal Merchant Bank (UMB). Some members of the NPP have described the move by their former leader and his Chief of Staff as an act of betrayal.

According to Godwin Ako-Gunn, the presence of former President Kufuor and Kwadwo Mpiani at the function has vindicated the General Secretary of the ruling NDC, Johnson Asiedu Nketia who is reported to have cautioned the opposition to rather point accusing fingers at the former President for granting the loan to Ibrahim Mahama during his tenure.

Speaking on Okay Fm’s Ghana Decides program, the NDC communicator posited that the truth has finally come out as the presence of Ex-President Kufuor at the launch has proven that the brother of President Mahama deserved the loan. He added it is clear that President Mahama did not use his position to unduly help his brother in any way.

“…..Asiedu Nketia has been vindicated…..NPP used to call Fortiz as ‘For thieves’; Asiedu Nketia warned the opposition to be circumspect with their utterances because the loan to Ibrahim which supposedly crippled Merchant Bank was given during the tenure of Ex-President Kufuor…for Ex-President Kufuor and his former Chief of Staff to be in their best attire to grace the launch of Universal Merchant Bank means that the program meant so much to him…don’t forget he gave the huge loan to Ibrahim without any collateral or any guarantee,” he asserted.

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