The Honorary Vice President of IMANI Centre for Policy and Education, Bright Simons has expressed deep disappointment in Ghana’s High Commissioner to the United Kingdom, Papa Owusu Ankomah for what he perceives as a grave mishandling of the ongoing issue regarding the acquisition of Regina House, Ghana’s historic property in London by Trafigura.
Mr Simons, known for his sharp and critical analysis of government actions and policies, expressed concern that instead of addressing the gravity of the situation, the High Commissioner appears more focused on assisting the Attorney General and Minister of Justice in spinning the facts, rather than ensuring the truth is communicated to the Ghanaian public.
“I am very disappointed in the High Commissioner of Ghana in London today. As Ghana’s most senior Diplomat in the United Kingdom, and in some ways the country’s eyes and ears there, his advice to the government about this Regina House matter is paramount.”
Bright Simmons, Honorary Vice President of IMANI Centre for Policy and Education
The Legacy of Regina House
Highlighting the significance of Regina House, Mr Simons pointed out that the facility holds significant historical value for Ghana, adding that the building was acquired in 1961 by Ghana’s first President, Osagyefo Dr. Kwame Nkrumah, from a City of London guild.
According to him, the property was intended to serve as a banking outpost for Ghana Commercial Bank, facilitating Ghana’s international business operations in the UK.
“Located at the corner of Queen Street and Cheapside, near the iconic Bank of England building, Regina House has served as a vital hub for various state-owned entities, including Ghana International Bank”.
Bright Simmons, Honorary Vice President of IMANI Centre for Policy and Education
Furthermore, Mr Simons recounted that over the years, the building has seen a mix of occupants, including Barclays, Abbey National, iBasis, and Chiba Bank, Japan.
However, he noted that the property’s fate took a sharp turn following a legal dispute between the Government of Ghana and a subsidiary of Trafigura, which culminated in a London High Court ruling in favor of Trafigura, awarding nearly $140 million in damages against Ghana.
Legal Battles and Government Inaction
Sharing some details of the legal battle, the Honorary Vice President of the IMANI policy think-tank mentioned that the origins of the dispute trace back to 2021 when the Government of Ghana lost an arbitration case it should never have entered into.
According to Mr Simons, despite initially seeking to overturn the ruling, the government abandoned its case in the High Court after securing an extension, only to return later with a poorly prepared case, in which the court dismissed Ghana’s appeal and upheld the $140 million judgment.
Following the court’s decision, Mr Simons indicated that Trafigura sought and obtained a “charging order” against Regina House, placing the property under receivership.
“I have checked the title register and i can confirmed that, CONTRARY TO THE ATTORNEY GENERAL’S CLAIMS, the charging order is STILL ACTIVE. It has NOT been vacated”.
Bright Simmons, Honorary Vice President of IMANI Centre for Policy and Education
Concerns Over Diplomatic Complacency
Mr Simons criticized the High Commissioner’s posture, which he described as complacent, warning that it could lead to further jeopardy of Ghana’s assets.
“The High Commissioner’s posture suggests complacency, and he will be remiss if he fails to acknowledge that a charging order is a step on the ladder of money judgment enforcement. The Judgment Creditor – Trafigura in this case – has the option to proceed to a court & ask for an ‘Order for Sale.’ By making it look like there is no cause for alarm, he is endangering Ghana’s assets”.
Bright Simmons, Honorary Vice President of IMANI Centre for Policy and Education
The IMANI Vice President further highlighted the broader implications of the case, noting that Ghana’s assets acquired by state-owned enterprises like Cocobod, Ghana Commercial Bank, and Ghana Consolidated Diamonds in the UK, as well as bank accounts around the world, could be vulnerable to seizure by Trafigura.
This, he argued, is a risk that the government seems to be downplaying.
Bright Simons, the Honorary Vice President of IMANI Centre for Policy and Education concluded his remarks with a stern warning to senior government officials to take immediate actions to avert further damages against Ghana.
“Please, this is not the time for spin & points scoring. Senior govt officials need to be serious”, he cautioned.
He emphasized the need for transparency and accountability, urging the government to take the matter seriously to protect Ghana’s international assets and reputation.
READ ALSO: SIC Insurance Leads GSE Trading as Volume Jumps 404% in a Day
