How Kufuor Aided Ken Agyapong & Wife


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With Corrupt Multimillion Dollar State Contracts

Kennedy Ohene Agyapong is shaping up to be the most ungrateful person in the eyes of ex-President John Agyekum Kufuor, who made him an overnight billionaire, by using the backdoor approach to offer him stinky multimillion dollars state contracts from the Ministry of Energy, illegally.

So cheap was the arrangement that any lazy man could walk away a billionaire as the contracts estimated to be nearly US$40 million flouted the Public Procurement law.

For instance, while most suppliers and contractors are paid their monies during or after execution of the job, Ken Agyapong and his wife, Stella Agyapong alias Ms. Wilson under a special arrangement were smiling to banks cashing huge sums, long before they even signed contracts with the Ministry of Energy under National Electrification Scheme.

The couple used two designated companies namely; Imperial World and Mina D’Oro Ventures to profit millions of United States Dollars. The then government had strangely broken the state contracts into bits and pieces for Imperial World and Mina D’Oro Ventures for the supply of electrical materials for rural electrification project under the Energy Ministry.

Another strange thing was that the two companies had Mrs. Agyapong, acting separately as the Managing Director (MD) were collecting huge sums from the government at the same time.

It was clear from the documents that the contracts most, of which were signed by the then Minister of Energy, Felix Owusu-Adjapong, were broken into pieces to avoid a competitive bidding process, as stated by the Public Procurement Act (Act 663) of 2003.

One agreement titled “Supply of Street Lighting Luminaires and Accessories for the National Electrification Project” was to be signed between the Ministry of Energy and Mina D’Oro Ventures Limited dated September 29, 2008, but two clear months before then, a total sum of US$1,650 million had been paid to the couple by the government in breach of the agreement.

That agreement signed on behalf of the Government by Felix Owusu-Adjapong and Stella Wilson on behalf of Mina D’Oro Ventures Limited had insisted on the following terms and conditions.

That the “approval of the agreement by the relevant authorities in accordance with the Public Procurement Act (Act 663) of 2003 and that the prices and terms for the supply of the materials and the equipment have been subjected to a Value for Money (VFM) analysis and the findings of the analysis have been incorporated into the Agreement”.

But two earlier document signed by Dr. Anthony Akoto Osei, a Minister of State at Finance Ministry dated August 7, 2008 and July 23,2008 had shockingly authorized payment on the yet to be signed agreement and delivered electrical items from Ken Agyapong and his wife, Stella Wilson. In all a total of US$1,650 million were paid to them.

What is even more bizarre, was a clause in the same agreement titled “Price and Payment Terms” where the Purchaser shall pay to the supplier as consideration for the supply of the materials, the Ghanaian Cedi equivalent of US$5,290,700 (Five million, two hundred and ninety thousand and seven hundred United States Dollars) using the prevailing inter-bank exchange rate in Ghana.

The agreement said, there shall be a moratorium on payment for 90 days after the delivery of the materials and acceptance by the purchasers, and that fifty percent (50%) of the total amount in the sum of US$2,645,350.00 (Two million, six hundred and forty five thousand, three hundred and fifty United States Dollars) shall be paid 90 days after the delivery of the materials and acceptance by the Purchaser.

The remaining fifty percent (50%) of the amount in the sum of US$2,645,350.00 (Two million, six hundred and forty five thousand, three hundred and fifty United States Dollars) shall be paid within 90 days after. But total amount payable shall be paid to the Supplier on the delivery of the Materials to the Purchaser’s warehouse in Tema against Commercial invoice (s) submitted by the Supplier.

However, even before all these requirements could be met, Mr. Agyapong and his wife had been paid part of the money and had gone withdrawing from their two bank accounts at the Agriculture Development Bank (ADB), Madina Branch, located inside the Hollyywood Arcade Building, which is owned by Ken Agyapong, from where his two media houses, Oman FM and Net2 TV operate from.

Imperial World Limited runs account number 1131000013929, whilst Mina D’Oro Ventures transact business with account number 1131000003302.

One other document again authored and dated November 14, 2008, by the then Energy Minister Felix Owusu-Agyapong also directed the Ministry of Finance and Economic Planning to pay a whopping Five Million, One Hundred and Seventy-Five Thousand United States Dollars (US$5,175,000) to Messrs Imperial World Limited for Electrical Materials supplied.

The contract sum dished out to the couple through Messrs Imperial World a memo from the Internal Audit Unit of the Energy Ministry also available to The Herald, revealed was Fourteen Million, Nine Hundred and Ninety Six thousand, Three hundred and US dollars, eighty eighty cents (US$14,996,308.88).

The documents gave suggestions that Stella Agyapong, fronted for her husband Ken Agyapong, who interestingly has been at the forefront of the fight to retrieve Judgement Debts fraudulently paid to Alfred Woyome, Waterville and others.

Mr. Agyapong, who is the NPP Member of Parliament (MP) for Asssin Central, recently on Accra-based Adom FM, admitted he made lots of his money during the Kufuor regime.

He openly confessed how he was given preferential treatments when it came to business transactions with the then government.

Just last Monday, in reaction to The Herald’s exposé he admitted supplying electrical materials to the Energy Ministry, but claims that government was yet to pay him the sum. He made the admission on an Accra-based Hot FM Morning Show hosted by sit-in host Omanhene Kwabena Asante.

The MP was forced to make the admission, following President Kufuor’s rebuttal of his claim that he was once driven out by the Mr. Kufuor from his Airport West residence for not supporting Mr. Alan Kyremanteng, whom Mr. Kufuor wanted as his replacement, not Nana Akufo-Addo.

Documents available to The Herald were handed over to the paper to demonstrate how President Kufuor and elements within his government bent the rules many times to favour Mr. Agyapong.

Recently, the Kufuor camp challenged Mr. Agyapong to name any of his so-called manufacturing companies he claimed were scattered in Accra and other parts of the country. They insisted that he was made a billionaire under the Kufuor regime, and mentioned juicy contracts dished out to him on a silver platter.

He was mainly importing Chinese products for government sometimes at inflated prices.

The camp also mentioned huge sums paid to him as finders’ fee in the construction of the Bui Hydro Power project in the Brong Ahafo Region.

Pushed to the wall, Ken Agyapong admitted making a fortune under the Kufuor government and apologised to the ex-president.

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