{"id":415637,"date":"2017-09-07T07:16:20","date_gmt":"2017-09-07T07:16:20","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/09\/07\/i-have-a-clearing-contract-with-cocobod-not-a-supply-contract-mcdan\/"},"modified":"2017-09-07T07:16:20","modified_gmt":"2017-09-07T07:16:20","slug":"i-have-a-clearing-contract-with-cocobod-not-a-supply-contract-mcdan","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/09\/07\/i-have-a-clearing-contract-with-cocobod-not-a-supply-contract-mcdan\/","title":{"rendered":"I have a clearing contract with Cocobod, not a supply contract – McDan"},"content":{"rendered":"

<\/p>\n

\n

He insisted that as for clearing of goods, he doesn\u2019t need to go through tender, and that he does it as and when Cocobod have goods to clear at the ports and he doesn\u2019t have a supply contract with Cocobod as was being peddled. A supply contract is required to go through procurement processes unlike a clearing one, he said.<\/p>\n

ADB facility<\/b><\/p>\n

In an interview with\u00a0Graphic Online\u2019s Mabel Aku Baneseh<\/b>, Mr McCauley said as a businessman who is a customer of the ADB Bank, nothing stops him from picking a credit facility from the bank and that he applied for a facility to help with his clearing business.<\/p>\n

<\/p>\n

On Tuesday, the Minority in Parliament questioned the propriety and capacity of the Minister of Finance, Mr Ken Ofori-Atta, who single-handedly gave the ADB the go ahead to grant a GH\u00a210,459,500 loan facility to McDan.<\/p>\n

Below\u00a0<\/b>is a copy of the letter ADB wrote to the Finance Minister.<\/p>\n

<\/p>\n

According to the Minority, the Minister in the letter dated June 9, 2017, authorised the bank to grant the said amount to MacDan to enable it to execute a \u201csupply contract\u201d awarded it by Cocobod.<\/p>\n

The Minority raised issues with how the said \u201csupply contract\u201d was given by Cocobod through \u201csole sourcing\u201d considering that the Public Procurement Authority (PPA) has no board as of now.<\/p>\n

But Mr McCauley insists that his contract with Cocobod was not a supply one.<\/p>\n

Clearing contract<\/b><\/p>\n

Checks by\u00a0Graphic Online<\/b>\u00a0has found out that the word \u201csupply contract\u201d came from the ADB letter which was sent to the Finance Minister asking for his approval, and the Minister responded based on the ABD letter.<\/p>\n

Checks by\u00a0Graphic Online\u2019s<\/b>\u00a0Mabel Aku Baneseh at the ADB on why the bank used \u201csupply contract\u201d instead of \u201cclearing contract\u201d as explained by Mr McCauley was yet to yield a response as officials at the bank have promised to get back to\u00a0Graphic Online<\/b>.<\/p>\n

Below<\/b>\u00a0is a copy of the letter from the Finance Minister in response to the ADB letter.<\/p>\n

<\/p>\n

Govt response<\/b><\/p>\n

Meanwhile the government has refuted the accusation by the Minority in Parliament that the Minister of Finance breached the requirement for the Board of Directors of the bank to give such approval.<\/p>\n

A Deputy Minister of Information, Mr Kojo Oppong Nkrumah, told Graphic Online\u2019s Musah Yahaya Jafaru that that due to the absence of a Board of Directors, the ADB sought the permission of the Minister of Finance and other significant shareholders of the bank to grant the loan to MacDan Shipping Company Limited. (Reference the two letters above)<\/p>\n

Part of the letter reads: “In the absence of a Board of Directors we write to seek the approval of the significant shareholders of the bank to enable it to disburse the facility to the customer.”<\/p>\n

Mr Oppong Nkrumah said in a letter dated June 9, 2017, Mr Ofori-Atta made reference to the request letter before granting the approval for the disbursement of the credit facility to the company.<\/p>\n

He said Mr Ofori-Atta in the letter asked the ADB to do due diligence before extending the facility to MacDan Shipping Company Limited.<\/p>\n

Paragraph three of the letter reads: “You are hereby directed to ensure that the necessary due diligence is done before the disbursement of the loan as well as ratification of the approval of the loan, once the Board is put in place.”<\/p>\n

The Deputy Minister said the Board of the ADB had now been constituted and indicated that the agreement for the GH\u00a210.45 million to MacDan Shipping Company Limited was before the Board for ratification.<\/p>\n<\/div>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

He insisted that as for clearing of goods, he doesn\u2019t need to go through tender, and that he does it as and when Cocobod have goods to clear at the ports and he doesn\u2019t have a supply contract with Cocobod as was being peddled. 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