Ameri deal likely to be abrogated if renegotiation fails

A Philip Addison-led committee that investigated the Ameri Energy deal has recommended a renegotiation of the deal that gives Ameri over US$150 million commission. According to the committee’s final report, the Build, Own, Operate and Transfer (BOOT) Agreement dated February 10, 2015 between the Government of Ghana represented by the Ministry of Power and Africa & Middle East Resources Investment Group LLC does not serve the “best interest of Ghana”. The committee also advised government to abrogate the contract if Ameri refuse to renegotiate. “Based on these observations, the Committee recommends that Ameri Energy should be invited back to the negotiation table to address and remedy the issues enumerated in this report and for GoG to aim to claw back a substantial portion of the over US$150 million commission. In the event that Ameri Energy refuses to come to the negotiation table, GoG should repudiate the Agreement on the grounds of fraud,” the report said in part. The 17-member committee was inaugurated by the Energy Minister on February 01, 2017 to review, restructure and recommend areas for amendment of the deal. The committee said after reviewing the BOOT agreement based on its technical, financial and legal merits/demerits, it identified issues that should form the basis for re-negotiation of the deal. The government was also advised that going forward, it should take all necessary measures to avoid power supply deficits which result in the execution of emergency power agreements. Click for the committee’s report Source: 3news.com|Ghana]]>

READ ALSO:  Pensions Act 'favours' only 15% of 12 million workforce, Forum urges review