Former Finance Minister, Kwame Peprah has denied that the former government incorporated a shelf company to facilitate the leasing of the controversial Gulf Stream III Presidential Jet. Mr. Peprah has also denied allegations of malfeasance in the lease agreement on the aircraft. He dismissed rumours that Gallen Limited was a non-existent company, which was incorporated by the former government.
In an interview with JOYFM, he explained that HSBC, the bankers who financed the acquisition of the plane incorporated a special purpose company, Gallen Limited, to transact the business.
Mr. Peprah noted that contrary to the NPP government’s assertion that they cannot find the managers of Gallen Limited, a team from HSBC, which visited the country recently, informed government of their intention to deal with them on the sale of the jet.
The HSBC also handed over copies of the transaction to the NPP government but according to Mr. Peprah, the government is finding difficulty to tell Ghanaians that there is no malfeasance surrounding the acquisition of the jet due to the damaging information it had provided Ghanaians about the jet and the National Democratic Congress (NDC).
Source: GhanaWeb
