• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, August 4, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Parliament has approved an $86 million loan facility for purchase of armoured Vehicles for GAF

August 14, 2020
Stephen M.Cby Stephen M.C
in General News, Sub Top Stories, Sub Top Stories1
0
Parliament has approved an $86 million loan facility for purchase of  armoured Vehicles for GAF

The loan according to the Minister for Defense, Dominic Nitiwul, is to replenish the stock of armored vehicles for GAF.

Parliament has currently approved a loan facility of some $86 million to procure armoured vehicles for the Ghana Armed Forces.

The loan according to the Minister for Defense, Dominic Nitiwul, is to replenish the stock of armored vehicles for GAF.

Furthermore, the Defense Minister, revealed that some of the vehicles of the military had not been replaced for over a decade.

RelatedPosts

President Mahama Dispels Nigerian Deportation Fears After Viral Video

MultiChoice Grilled On DSTV Pricing 

Sam George Rejects DStv’s Proposal, Insists on Price Reduction

It will be recalled that, Government sought parliamentary approval to borrow a total of $166,120,000 for the purchase of armored vehicles.

The three separate agreements were laid in parliament on Monday, August 3, 2020 and referred to a joint committee on Finance, Defense and Interior.

The first facility is between government of Ghana (represented by the Ministry of Finance) and Israel Discount Bank Limited for an amount of Seventy-Four Million, One Hundred and Twenty Thousand United States Dollars to finance the supply of Armoured Vehicles to Government of Ghana.

The House also then requested the approval of a Commercial Loan Agreement between Government of Ghana and the same Israel Discount Bank for an amount of $12million for supply of Armoured Vehicles.

The third and final facility was a contract Agreement between Government of Ghana and Elbit Systems Land Limited of Israel for an amount of $80 million for supply of Armoured Vehicles.

All the 3 facilities were laid by Defense Minister Dominic Nitiwul.

The approval of the agreement in Parliament was blighted with some challenges posed by the Minority who raised questions about the value for money considerations underpinning the agreement.

Richard Acheampong, a Member of the Minority on the Finance Committee, said, “we have to take security matters seriously. Quality of product must be ensured. We must procure what can stand the test of time so that it is not like we are throwing out money, because, we are taking a loan facility for this purpose…It is a very expensive facility we are taking so whatever we are getting from it must stand the test of time.”

But the Minister of Defence, Dominic Nitiwul maintains that the necessary value for money checks are being conducted by the appropriate state agencies including the Ministry of Finance.

“Value for money takes various forms. Public procurement will do its own value for money, Parliament will do value for money and the Ministry of Finance will do value for money before the contract is finally executed and concluded.

“I can give members assurance that these are top-notch quality equipment that the Armed Forces have been looking forward to for a very long time. I am glad that members are very supportive of it,” the Minister said.

The loan facility was agreed between the Ghana government, represented by the Finance Ministry and the Israel Discount Bank Limited.

Tags: armoured vehiclesdefense ministryGAFLoan facilityParliament
Please login to join discussion
Previous Post

RB Leipzig Stuns Atletico Madrid to Set Up Champions League Semi with PSG

Next Post

Aflatoxin: GSA Sensitizes Agric Extension Officers In The Western Region

[mc4wp_form id="1264"]

Related Posts

Pakistan, Iran Ink Deals Across Various Sectors
Asia

Pakistan, Iran Ink Deals Across Various Sectors

August 3, 2025
President John Dramani Mahama, With Minister Bianca Odumegwu-Ojukwu, Ghana, Nigeria
General News

President Mahama Dispels Nigerian Deportation Fears After Viral Video

August 3, 2025
DSTV Pricing under scrutiny
General News

MultiChoice Grilled On DSTV Pricing 

August 3, 2025
Newmont Finalises $770M Sale of Akyem Mine to Zijin Mining 
Extractives/Energy

Newmont Finalises $770M Sale of Akyem Mine to Zijin Mining 

August 3, 2025
Ghana’s Minister for Communications, Digital Technology and Innovations, Hon. Samuel Nartey George
General News

Sam George Rejects DStv’s Proposal, Insists on Price Reduction

August 3, 2025
New Wave Of Violence Displaces Thousands In Mozambique
Africa

New Wave Of Violence Displaces Thousands In Mozambique

August 3, 2025
Pakistan, Iran Ink Deals Across Various Sectors
Asia

Pakistan, Iran Ink Deals Across Various Sectors

by Comfort AmpomaaAugust 3, 2025
President John Dramani Mahama, With Minister Bianca Odumegwu-Ojukwu, Ghana, Nigeria
General News

President Mahama Dispels Nigerian Deportation Fears After Viral Video

by Silas Kafui AssemAugust 3, 2025
DSTV Pricing under scrutiny
General News

MultiChoice Grilled On DSTV Pricing 

by Lilian AhedorAugust 3, 2025
Newmont Finalises $770M Sale of Akyem Mine to Zijin Mining 
Extractives/Energy

Newmont Finalises $770M Sale of Akyem Mine to Zijin Mining 

by Prince AgyapongAugust 3, 2025
Ghana’s Minister for Communications, Digital Technology and Innovations, Hon. Samuel Nartey George
General News

Sam George Rejects DStv’s Proposal, Insists on Price Reduction

by Evans Junior OwuAugust 3, 2025
New Wave Of Violence Displaces Thousands In Mozambique
Africa

New Wave Of Violence Displaces Thousands In Mozambique

by Lawrence AnkutseAugust 3, 2025
Pakistan, Iran Ink Deals Across Various Sectors
President John Dramani Mahama, With Minister Bianca Odumegwu-Ojukwu, Ghana, Nigeria
DSTV Pricing under scrutiny
Newmont Finalises $770M Sale of Akyem Mine to Zijin Mining 
Ghana’s Minister for Communications, Digital Technology and Innovations, Hon. Samuel Nartey George
New Wave Of Violence Displaces Thousands In Mozambique
[/vc_row_inner]

Recent News

  • Pakistan, Iran Ink Deals Across Various Sectors
  • President Mahama Dispels Nigerian Deportation Fears After Viral Video
  • MultiChoice Grilled On DSTV Pricing 
  • Newmont Finalises $770M Sale of Akyem Mine to Zijin Mining 
  • Sam George Rejects DStv’s Proposal, Insists on Price Reduction
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.