Home Business Produce Evidence to Save Your Reputation …Financial Analyst Challenges Ras Mubarak  

Produce Evidence to Save Your Reputation …Financial Analyst Challenges Ras Mubarak  

12 min read

A Financial Consultant, Fiifi Andoh Duah, has thrown a challenge to the Member of Parliament (MP) for Kumbungu, Hon. Ras Mubarak, to provide the evidence of his alleged payment of GHC 2 million by GEXIMBANK to Dance Hall Artiste, Shatta Wale.

This, he said, is very important to save his reputation as an MP and that of the National Democratic Congress (NDC), the political party on whose ticket he was voted to Parliament.

Speaking to the media yesterday on the allegation made against GEXIMBANK when management of the latter appeared before the Public Accounts Committee (PAC) of Parliament on Wednesday, Mr. Duah said, if he is unable to provide the evidence, he and other like-minded persons will not hesitate to petition the Committee to cite Hon. Mubarak for perjury,

It will be recalled that, Hon. Ras Mubarak, at the PAC meeting on Wednesday, alleged that, GEXIMBANK had paid an amount of GHC 2 million to Dance Hall Artiste, Shatta Wale, to support the campaign by the bank for all to patronize made in Ghana goods.

At Wednesday’s meeting of the Committee, Members questioned the basis for which state-owned GEXIMBANK allegedly paid about ¢2 million to the dancehall artiste, Charles Nii Armah Mensah Jnr. aka Shatta Wale and others as brand ambassadors.

Ras Mubarak, a member of the Committee told the Committee that, it made no economic sense for the Bnak to pay such an amount to an artiste to promote made in Ghana goods.

“I mentioned ¢2 million that went to Shatta Wale but the Deputy CEO says they wouldn’t know who the vendor selected and this is not to say that, we have a problem with Shatta Wale getting some amount of money to do whatever work.

“But the Ghanaian public deserves to know how much went out and who got it, because their answers were not satisfying.”

Mr. Mubarak’s concerns follow media reports suggesting that, the Bank had paid some huge sums of monies to Shatta Wale and actor and comedian, Kofi Adu, popularly known as “Agya Koo” to be its brand ambassadors.

But the Deputy Chief Executive Officer of the Bank, with oversight of the Finance and Administration Division, Kwame Adu-Darkwa, responding to the matter at the meeting of PAC on Wednesday said, the bank only engaged the services of a media consultant to support them in promoting their products since it was necessary.

The Deputy CEO however insisted that, he had not signed or sighted any cheque to the tune of GH¢2 million given to any artiste.

“You will be surprised how brand ambassadors can be good for promoting a particular sector. Sometimes what needs to be done is that, if you have done incredible work, it will be good for people to know what their options are, and having a good brand ambassador to do that makes sense.”

But Ras Mubarak, who is MP for Kumbungu believes the money could have been invested in provision of water and other basic amenities for rural communities.

Meanwhile, Chairman of PAC, James Klutse Avedzi said, the Committee would invite officials of the Bank to present details of the said payments to Shatta Wale and others.

Reacting to the developments at the meeting of PAC on Wednesday, the Financial Consultant said, the Committee should give Hon. Ras Mubarak the opportunity of providing proof of his allegation and to also give officials of the bank the opportunity of making their final position known on the matter.

In another development, GEXIM has begun a nation-wide Campaign dubbed Made-In-Ghana4P, to encourage Ghanaians to support the growth and development of indigenous businesses.


Below is the statement issued by the bank:


GEXIM has begun a nation-wide Campaign dubbed Made-In-Ghana4P to encourage Ghanaians to support the growth and development of indigenous businesses.

The bank’s mission is to facilitate the transformation of Ghana’s economy into an export-led one by supporting and developing trade between Ghana and other countries and also building Ghana’s capacity and competitiveness in the international marketplace. For the past three and half years, GEXIM has been the main financial institution driving the realization of the 1D1F Special Initiative aimed at the socio-economic development of the country.


Why Made-in-Ghana campaign?

Part of the GEXIM’s mandate is to assist in the promotion of locally produced goods and services to enhance export revenue generation, improve import-substitution, add value, and create employment in the country. It is against this backdrop that this campaign was launched.

The aim is to encourage Ghanaians to support our own products and make local industries competitive. Hence, the campaign will focus on four thematic areas to make up the 4Ps: PRODUCE – PROMOTE – PURCHASE – PROSPER

PRODUCE: To encourage entrepreneurship amongst the citizenry by investing in the production of local goods and services.

PROMOTE: To encourage businesses in local production to promote their products and services for both local and foreign consumption.

PURCHASE: To encourage Ghanaians to choose local over foreign goods, help local businesses grow, provide opportunities, and reduce the dependency on imported goods. The more Ghanaians patronize locally produced goods and services, the more businesses will grow and provide opportunities for others, which in effect will put the country on track to becoming self-sufficient and relying less on imports.

PROSPER: To sensitize Ghanaians that as a nation, if we invest in local production, promote our products and purchase our own goods and services, the economy will grow, which ultimately make the nation Prosper.

Partnership with Brand Ambassadors

As part of the campaign and in tandem with GEXIM’s support for the Creative Industry, the Bank has contracted Brand Ambassadors and Influencers who have shown prowess in their respective fields and have interest in this campaign to help push the Made in Ghana agenda.

We also welcome and encourage others who can help in pushing this agenda to join in the campaign and drive our message even further.

Collaboration with PRINPAG

As a forward looking brand, we seek to involve key stakeholders in this national campaign; thus, we have begun a collaboration with the Executives and Editors of the Private Newspapers Publishers Association (PRINPAG) which culminated in a media encounter with the Owners and Editors of leading media houses to establish a reliable cooperation and collaboration. Subsequent to this encounter and in our bid to deepen the campaign, PRINPAG, as our lead stakeholder, undertook a first in a series of a country tour of GEXIM’s financed Projects in the Central Region to visit Ekumfi Fruits and Juice Factory and Casa DeRopa on August 7, 2020.


GEXIM Support

Sectors that have received financial support from GEXIM include the pharmaceutical, Poultry, Shea, Creative Arts, Garments, Pineapple, Cassava, Mango, Cocoa products, and Oil Palm. Some of the factories that have been completed include Ekumfi Fruit and Juices factory, Casa de Ropa, Akro Poultry farm, Green Houses in KNUST, CUC, amongst many others.


Issued by

Head of Corporate Affairs

Ghana Export-Import Bank

Dated Sunday 30th August, 2020.



Load More Related Articles
Load More By admin
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Kyebi Gets New Ultra-Modern Astro Turf

Residents in Kyebi in the Abuakwa South Municipality in the Eastern region have benefited …