North Tongu MP Samuel Okudzeko Ablakwa has alleged that the procurement processes for the proposed new office complex of the Bank of Ghana have been shady.
He stated that the procurement processes commenced under the ruling administration, contrary to the NPP’s accusations that they started with Minority Leader Ato Forson as a member of the board.
In an “expose” on Thursday, the assertive MP claimed the BOG only handpicked some five construction companies, including an unregistered one, for the development of the project, contrary to the Public Procurement Act, 2003 (Act 663), as amended.
Mr. Ablakwa stated as follows:
“The BoG’s unacceptable use of the Restricted Tendering Method amounts to a blatant violation of the Public Procurement Act, 2003 (Act 663) as amended in Act 914. Section 38 of Act 663 provides a limited scope for the use of Restricted Tendering in circumstances where goods, services or works are available only from a limited number of suppliers or contractors.”
“From the intercepted documents, the BoG handpicked the following companies: i) Messrs. WBHO Ghana Limited, ii) Messrs. Man Enterprise, iii) Messrs. DeSimone Limited, iv) Messrs. Ronesans Holdings and v) Messrs. Goldkey Properties.”
“It is not clear what criteria the BoG used in selecting its preferred 5 companies when Ghana’s built environment can boast of many established and celebrated construction firms such as Consar, Berock, Maripoma, Mawums, M. Barbisotti, First Sky, Antartic, Ussuya, Regimanuel, and so on and so forth.”
The MP also said the initial cost of the project was US$82 million, blaming the updated estimated cost of US$250 million on shady and non-transparent procurement processes.
“I intercepted another letter dated 4th September, 2020 also signed by PPA Acting Chief Executive, Mr. Frank Mantey which shockingly reveals that just within 8 months, the cost of the BoG Head Office project astronomically increased from US$81,882,640.00 to US$121,078,517.94.”
“Experts say this staggering US$40million increase in the project cost between January and September 2020 in a dollar denominated contract is absolutely mind boggling.”
“A 40% hike merely after tender evaluation in dollar pricing, not cedis, raises many critical questions for the BoG.”
“A credible full competitive tender process would have avoided this arbitrary cost escalation and guaranteed value for money.”
In an official statement, the Central Bank explained that the new building has become necessary because of structural integrity concerns.
The BOG also said that new premises might subsequently host the West Africa Monetary Institute (WAMI).
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