• About
  • Advertise
  • Privacy Policy
  • Contact
Sunday, July 13, 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

GH₵ 85m Taxpayer Funds Misused In Stadium ‘Rehab’ Contracts

September 14, 2024
Lilian Ahedorby Lilian Ahedor
in General News
0
Ablakwa called out on LGBTQ issues

HON. SAMUEL OKUDZETO ABLAKWA, FOREIGN AFFAIRS MINISTER

Hon. Samuel Okudzeto Ablakwa has revealed that a staggering GH₵ 85 million of taxpayer money was misused, with funds being funneled to favored companies for the supposed rehabilitation of three national sports stadiums in recent years.

According to Hon. Ablakwa, thorough parliamentary oversight has led him to a disturbing conclusion that Ghana’s failure to secure value for money in these contracts has resulted in an unprecedented international embarrassment.

He pointed out that had funds been managed more prudently, Ghana could have avoided the embarrassing situation of all its stadia being prohibited from hosting international competitions by CAF.

RelatedPosts

Basintale Criticizes NPP’s Poor Strategy In Ablekuma North 

Police Assures Justice Over Violence in Ablekuma North Rerun Election

IMANI Flags Transparency Gaps in $360 Million World Bank Loan

“The latest revelations dispel widely held views that our national stadia were simply abandoned by an incompetent NPP government. It turns out the real situation is worse — there was all along a corrupt create, loot, and share scheme with taxpayer funds in the name of stadium rehabilitation but only a few enriched themselves without Ghana benefiting.

“GH₵41.9 million Essipong (Sekondi) Rehabilitation; On July 14, 2023, the then Deputy Minister for Finance, Dr. John A. Kumah (may his soul rest in peace) wrote to the Minister for Youth and Sports granting authorization for the rehabilitation of the Essipong Stadium. The contract was awarded to Cisdan Company Limited”.

Hon. Samuel Okudzeto Ablakwa

Ablakwa revealed that corporate records show Cisdan Company Limited is owned by Kelvin Ofori-Atta, a family member of President Akufo-Addo and his former Finance Minister, Ken Ofori-Atta.

He pointed out that by October 25, 2023, Cisdan had submitted an interim payment certificate for GH₵ 6,853,942.80, which was quickly processed and paid.

The sharp-eyed lawmaker further disclosed that numerous substantial payments have been made to Cisdan since then.

Ablakwa revealed that the Accra Sports Stadium renovation project came with a hefty price tag of GH₵22.4 million.

He noted that this cost was agreed upon on February 27, 2020, when the Ministry of Youth and Sports signed a contract with Coupbay Ghana Limited to renovate the stadium.

Family Ties To Stadium Contracts Raise Eyebrows

According to Hon. Samuel Okudzeto Ablakwa, Coupbay Ghana Limited has ties to Kelvin Ofori-Atta, a politically connected individual with family links to the President.

Ablakwa highlighted the irony, given President Akufo-Addo’s past assertions that he would not operate a “family and friends” government, only to have numerous examples surface.

The bad state of Ghanas stadia
The bad state of Ghana’s stadia

He noted that merely 24 days after signing the February 27, 2020 agreement, Coupbay Ghana Limited submitted an interim payment certificate on March 23, 2020, requesting GH₵ 11,223,895.03.

“By 3rd November, 2021, the Youth and Sports Ministry was demanding another payment of GH₵ 4,553,199.83 for Coupbay. Further tracking points to multiple payments to Coupbay”.

“GH₵ 21.1 million Baba Yara (Kumasi) Sports Stadium Renovation; On 6th April, 2020, the Ministry of Youth and Sports signed another agreement worth GH₵ 21,122,068.44 with Javkier Limited for the renovation of the Baba Yara Sports Stadium”.

Hon. Samuel Okudzeto Ablakwa

Ablakwa further disclosed that Javkier received official notification from the Ministry of Youth and Sports on March 27, 2020, confirming their successful bid for the contract.

He observed that despite the supposed renovations, the stadium still appears neglected, with visible signs of disrepair spanning over two decades.

The MP pointed out that on June 1, 2023, the Ministry of Youth and Sports certified Javkier, a company owned by the Arhin ladies, for payment, raising further questions about the contract’s legitimacy.

Hon. Ablakwa lamented that this embarrassing international incident was avoidable but for the pervasive corruption, blatant nepotism, rampant plundering of resources, incompetence, and utter disregard for the nation’s well-being.

He emphatically declared that President Akufo-Addo warrants impeachment, and the officials at the helm of the Ministry of Youth and Sports, as well as the National Sports Authority, have proven themselves unfit to remain in their positions.

READ ALSO: KOD Warns Youth Against Romanticising Coups, Outlines Alternatives

Tags: CAFCorruptioneconomyGhana NewsNepotismsportssports stadiumvalue fo money
Please login to join discussion
Previous Post

Academic Addresses Concerns over NDC- EC’s Voter Register “Brouhaha”

Next Post

Creatives Urged to Focus on Creating Timeless Music, Not Grammys

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

AratheJay Opens Up About His Music Journey
Entertainment

AratheJay Opens Up About His Music Journey

July 12, 2025
IMF Team to Arrive in Ghana for Talks on Economy and 2025 Budget
Economy

IMF Flags Ghana as High Risk for Debt Distress Despite Debt Being “Sustainable”

July 12, 2025
Sudan Urges ICC Probe Into Foreign Interference
Africa

Sudan Urges ICC Probe Into Foreign Interference

July 12, 2025
NPP blamed for defeat in Ablekuma North rerun
General News

Basintale Criticizes NPP’s Poor Strategy In Ablekuma North 

July 12, 2025
COP Christian Tetteh Yohunu., IGP
General News

Police Assures Justice Over Violence in Ablekuma North Rerun Election

July 12, 2025
Erdogan Supports Iran’s Right To Self-Defence
Asia

Erdogan Hails PKK’s Disarmament

July 12, 2025
AratheJay Opens Up About His Music Journey
Entertainment

AratheJay Opens Up About His Music Journey

by Esther Korantemaa OffeiJuly 12, 2025
IMF Team to Arrive in Ghana for Talks on Economy and 2025 Budget
Economy

IMF Flags Ghana as High Risk for Debt Distress Despite Debt Being “Sustainable”

by Stephen M.CJuly 12, 2025
Sudan Urges ICC Probe Into Foreign Interference
Africa

Sudan Urges ICC Probe Into Foreign Interference

by Lawrence AnkutseJuly 12, 2025
NPP blamed for defeat in Ablekuma North rerun
General News

Basintale Criticizes NPP’s Poor Strategy In Ablekuma North 

by Lilian AhedorJuly 12, 2025
COP Christian Tetteh Yohunu., IGP
General News

Police Assures Justice Over Violence in Ablekuma North Rerun Election

by Evans Junior OwuJuly 12, 2025
Erdogan Supports Iran’s Right To Self-Defence
Asia

Erdogan Hails PKK’s Disarmament

by Comfort AmpomaaJuly 12, 2025
AratheJay Opens Up About His Music Journey
IMF Team to Arrive in Ghana for Talks on Economy and 2025 Budget
Sudan Urges ICC Probe Into Foreign Interference
NPP blamed for defeat in Ablekuma North rerun
COP Christian Tetteh Yohunu., IGP
Erdogan Supports Iran’s Right To Self-Defence
[/vc_row_inner]

Recent News

  • AratheJay Opens Up About His Music Journey
  • IMF Flags Ghana as High Risk for Debt Distress Despite Debt Being “Sustainable”
  • Sudan Urges ICC Probe Into Foreign Interference
  • Basintale Criticizes NPP’s Poor Strategy In Ablekuma North 
  • Police Assures Justice Over Violence in Ablekuma North Rerun Election
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.