Boakye Agyarko, former Minister for Energy, Republic of Ghana

A former Minister for Energy in the Republic of Ghana under the first term of President Akufo-Addo, Boakye Agyarko says he cannot be held responsible for the termination of the Emergency Power Agreement with GCGP Limited which has led to a $134 million judgment debt slapped on the West African nation.

According to him, he had no power to do that on his own when he was in office and, therefore, finds it surprising that he has been linked to the development.

Boakye Agyarko was the first Energy Minister under the first term of President Akufo-Addo’s administration.

He was relieved of his post in 2018 and replaced with Mr. John Peter Amewu, who is now representing the people of Hohoe constituency as MP in Ghana’s Parliament.

The GCGP Limited’s power agreement was signed in 2015, under the erstwhile John Dramani Mahama’s administration.

However, the current administration, upon assumption of office in 2017, caused a review of a number of Power Purchase Agreements the previous administration had signed, resulting in a number of them being terminated while others were also rescheduled to be implemented in years to come.

Per the explanation offered by the government at that time allowing those PPAs to be implemented would only go to further lead to the ballooning of the energy sector debt.

However, the decision by the government did not sit well with

GCGP Limited who proceeded to the International Court of Arbitration and secured a ruling in its favour.

The Court awarded $134 million in judgment debt and US$30 million in interests from the Government of Ghana over the cancellation of the contract.

Commenting on the development on an Accra-based Oman FM’s ‘Boiling Point’ programme, Boakye Agyarko explained that he only implemented a decision taken by Cabinet and so could not be held responsible for the judgment debt.

“I just realised that they filed for arbitration on August 11, 2018. This was after I had left the ministry. I never knew they had gone for arbitration. I am told that the government presented itself at the arbitration. How would someone accuse me of cancelling the contract? I have not cancelled any contract. I don’t have the power or the need or desire to cancel it. I am for what will help Ghana,” he said.

While admitting that the contract was cancelled during his tenure, he said all the actions taken at the time concerning the various renegotiated power deals were decisions of Cabinet.

“It was during my tenure [but] don’t say I cancelled the contract. Let me say emphatically that I, Boakye Kyeremanteng Agyarko, I did not use my will or power to cancel anyone’s contract.

“The decision was that we should negotiate them out. We sent the report to Cabinet and I presented to Cabinet. Cabinet accepted the report with all recommendations. I was asked as sector minister to implement the report,” he said.



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