The proposed “sale” of the state-owned property comes to the fore as the GTFC is currently receiving facelift to make the facility an enviable exhibition hub within the West African sub-region.
In spite of denial by top government officials that there are plans to sell GTFC to private entities, particularly their cronies, information available to Today indicate that the state-owned facility is on the verge of being sold out to so-called strategic investors.
The GTFC is in serious crisis following its failure to meet its financial obligations to both public and private companies and its debts now stand at GH¢2 million. As a result of this, series of court actions have been taken against the company by disgruntled public and private institutions, including the owners of the land the GTFC is sited on, the La stool, headed by La Mantse, Nii Kpobi Tettey-Tsuru III.
Speaking on an Accra-based radio station, Joy FM, in January 2013, the Board Chairman of GTFC, Captain Kojo Butah (Rtd,) was all for the sale arguing that government failed to bail out the centre and so it stands the risk of being sold to defray its debts.
Captain Butah said an arrangement to pay GH¢5,000.00 monthly from the accounts of GTFC to the Electricity Company of Ghana (ECG) to gradually offset its accumulated bills failed to go through because a court in Accra had issued a garnishee order on it.
“We bought shelves from a company for trade fairs at €160,000.00, and we didn’t pay it. It started accruing interest, which now stands at about €60,000.00. They went to court to seek judgment to pay so the court upheld their petition and garnished our operating account,” he added.”
He noted that the second issue has to do with our former Chief Executive Officer (CEO), Madam Esther Ofori, who retired in 2009 but has not been paid her entitlements yet. We owe her about $80,000.00. She also went to court and the court asked us to lose certain items to her. In the process, the court garnisheed our accounts.”
He stated that there were other debts owed the Ghana Revenue Authority which totaling about GH¢80,000.00 which has been outstanding since 2003.
He said the GTFC’s financial position was affecting its operations. If the situation is not addressed immediately, it could affect both national and international events lined up by GTFC this year.
However some concerned Ghanaians have kicked against calls for the sale of GTFC to private entities. They argue that the company will make profit if its managers sit up and manage it properly like a business intended to make profit.
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