Woyome reveals source of his funds

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alfred-woyomeAlfred Agbesi Woyome, the National Democratic Congress (NDC) financier accused of fraudulently receiving GH¢ 51.28 million judgment debt,  has stated that he sourced for funds for the construction of the stadia for the Confederation of African Nations (CAN) 2008 football tournament in his capacity as Alfred Agbesi Woyome.

He however, admitted that he initially had only personal business with Waterville and added that whatever money Waterville paid to M-Powapak – of which he was at the helm of affairs – was in relation to structuring for Waterville.

The accused person said this in an Accra high court presided over by Justice John Najet-Assam, during cross-examination led by principal state attorney, Mrs. Yvonne Obuobisa, and disclosed that there was an earlier agreement between M- Powapak and Waterville which had been annulled.

In response to the assertion that he was paid 3.6 million Euros by Waterville for all the work he did, Woyome said that the said money was in relation to sourcing for funds for Waterville from Hong Kong Shanghai Bank, which was entirely different from the bid.

Woyome said the alleged bid with Government was cancelled after it had received concurrent approval, and maintained that payment to M-Powapak by Waterville was in relation to structuring and not financial engineering.

The state attorney put it to Woyome that records available showed that the agreement M-Powapak had with Waterville was not annulled, to which he insisted that it was.

Mrs. Obuobisa further put it to Woyome that there was an agreement between M-Powapak and Waterville that all fees had been settled and that there would be no fees payable then or in the future.

In response, the accused person, a retired diplomat, said after the termination of the agreement M-Powapak had with Waterville, an agreement was reached and payments were made to M-Powapak, not to him.

Furthermore, he stated that the company that did not bid was given the Baba Yara Stadium and other companies were called to do ground preparations for water supply, among other things.

The state attorney said there was no claim open to Woyome after M-Powapak was fully paid by Waterville for all the work – after the Government had fully paid Waterville all the monies it owed to M-Powapak – to which he said that was not correct because the payment was for structuring.

The retired diplomat said the role he played as Alfred Agbesi Woyome in the construction of the stadia for was in the annulled bid between him and the Government of Ghana, specifically relating to Baba Yara and Essipong Sports stadia.

The case has been adjourned to November 3 2014.

On Tuesday Woyome denied that whatever services he rendered for the government was fully paid for.

He said the evidence of Andrea Orlandi of Waterville who had testified in the course of the trial that whatever money was owed to them by Government was fully paid was not a talk about him but Waterville.

By Fidelia Achama


ABOUT: Nana Kwesi Coomson

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An Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

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