Joy FM’s ongoing enquiries into the background of the companies proposing a one billion dollar loan to Ghana have revealed that the lead company, Chemac Inc, which submitted the loan agreement on behalf of the International Finance Consortium (IFC) is not a financial institution. The loan agreement has generated debate after the opposition National Democratic Congress (NDC) disclosed that the whole agreement is a sham. Chemac Inc is a New Jersey based Sales and Service Centre for high pressure industrial machinery and sealing equipment.
Source: GhanaWeb
