The Deputy Minister of Finance, Dr John Kumah has reacted to Minority’s claim regarding BOST Twin Tower Project.
He said there are various inaccurate claims by the Ranking Member of the Mines and Energy Committee of Parliament, Hon. John Jinapor regarding the BOST Head Office Project.
According to the Deputy Finance Minister, the initial cost of the twin tower as mentioned by Hon. John Jinapor of $35 million was arrived at in 2015 by the then Management of BOST of which a contract was awarded to a company.
He said, in 2017 when the Akufo-Addo-led administration took over, the new Management of BOST noticed various procurement infractions and malfeasance associated with the original contract awarded for the construction of the twin towers.
Dr Kumah noted that the management of BOST subsequently wrote to EOCO, and PPA to independently conduct a value-for-money audit on the project.
“Fast forward, when due process and the right procedure was followed, the ministry of finance received a request from BOST for the construction of the twin tower of which We approved for only one of the twin tower to be constructed for $23.5 million” He added
Read the FULL statement below.
Reference is made to various inaccurate claims by the Ranking Member of the Mines and Energy Committee of Parliament, John Jinapor regarding the BOST Head Office Project.
In the said interview granted by the Member of Parliament, he is heard making various claims that the construction of the twin tower by BOST has ballooned to 78 million dollars from $39 million(2015 cost) creating the impression that there is some financial malfeasance associated with the revised figure.
As a Deputy Minister of Finance, fully abreast with the process so far, I deem it appropriate to deflate the propaganda being put out by the Minority and to expose their lies.
First is to say that the initial cost of the twin tower as mentioned by Hon. John Jinapor of $35 million was arrived at in 2015 by the then Management of BOST of which a contract was awarded to a company.
In 2017 when this administration took over, the new Management of BOST noticed various procurement infractions and malfeasance associated with the original contract awarded for the construction of the twin towers.
Subsequently, they wrote to EOCO, and PPA and independently conducted a value-for-money audit on the project.
Fast forward, when due process and the right procedure was followed, the ministry of finance received a request from BOST for the construction of the twin tower which We approved for only one of the twin tower to be constructed for $23.5 million
Note that even though it is a twin tower both towers differ in terms of shape and use. The approval We gave was for a tower to serve as an office space.
BOST is currently occupying rented premises, securing the single block at $23.5 million will help to do away with the burden of the rising cost of rent in the current premises.
The two blocks per the valuer’s report in 2020 cost $49.6 million and therefore the claim the blocks cost $78 million is untrue.
Furthermore, the PPA gave approval for the single tower to be built at USD 24 million and not USD 39 million as falsely claimed by John Jinapor.
A copy of the PPA letter is hereby attached.
