An American development consultant has accused officials within the Ghanaian government and certain local banks of obstructing and allegedly diverting billions of dollars intended for humanitarian and infrastructure projects.
The allegations were made at a press conference in Accra on Tuesday, addressed by Wayoe Ghanamannte on behalf of Michael Bass, a U.S.-based consultant and Director of the Primary Group Global Foundation (PGGF).
Bass, who has lived and worked in Ghana for 15 years, claimed his foundation had secured a funding agreement with MAEC Financial, an Italian firm, to channel $100 million monthly over a 48-month period into development projects in Ghana. However, he said the process was derailed after what he described as a “suspected circumvention” by government officials and partner banks.
“We had completed all due diligence, obtained the necessary documentation, and received assurances from participating banks,” Bass stated in a written address read by Ghanamannte. “But after nearly a year of cooperation, the banks and state representatives went silent and cut off communication. We have reason to believe that our initiative was circumvented.”
Funding Process and Breakdown
According to Bass, the Primary Group Global Foundation was registered in Ghana on June 10, 2024, and subsequently opened accounts at Republic Bank, ADB Bank, and UMB Bank to facilitate the incoming project funds.
Republic Bank, he said, had initially issued a letter in October 2024 confirming its readiness to process the funding protocols once the due diligence was completed. The foundation also held meetings with top officials, including Chief of Staff Julius Debrah, to discuss coordination with multiple banks for the project inflows.
However, after months of assurances, communication from the banks reportedly ceased. Bass claimed that when he attempted to meet Republic Bank’s Managing Director directly, he was informed through the MD’s office that the bank had decided not to proceed — though no official letter was issued to that effect.
“Republic Bank dragged us along for 11 months,” Bass alleged. “We were constantly told that progress was being made, only to be shut out without explanation.”
Alleged Circumvention
Bass said individuals linked to the government, including lawyer Lawrence Addison and others who facilitated introductions with state officials, later stopped communicating with him. He claimed that the state appeared to have taken over the process to engage MAEC Financial directly, effectively bypassing the foundation.
He suggested that the Ghanaian government’s subsequent appointment of the Millennium Development Authority (MiDA) as the coordinator of international grants — as reported earlier this year — coincided with the period when his foundation’s funding plans were allegedly derailed.
Bass referenced a video and news article appearing to show President John Mahama discussing multi-billion-dollar inflows over a four-year period, similar to the proposed MAEC funding arrangement.
He said the foundation has since submitted documents and evidence to Interpol Italy, the FBI, and the U.S. Embassy in Accra.
“We have been left with no choice but to pursue legal action against the parties involved,” Bass said. “This is not just about us — it’s about protecting Ghana’s integrity and ensuring transparency in global development financing.”
Government and Bank Response
As of press time, neither the Ghana government nor the named financial institutions — Republic Bank, ADB Bank, and UMB Bank — had issued official statements responding to the allegations.
The Primary Group Global Foundation maintains that it holds full documentation of its engagements with the government and banks and is prepared to present these in court if necessary.
Bass added that this was not the first time he had encountered obstacles in attempting to bring grant funding to Ghana, recalling a similar experience in 2014 when officials allegedly demanded a 20 percent “kickback” from an earlier funding initiative.
“Corruption continues to undermine Ghana’s development,” he stated. “Enough is enough.”
The allegations, if substantiated, could raise serious questions about the handling of international financing initiatives in the country.
By Kingsley Asiedu