Business Uncategorized

Bribing TOR Boss Gets Replacement

President Akufo-Addo has appointed one Francis Boateng as the new Managing Director for the Tema Oil Refinery, Whatsup News has gathered.

He replaces the erstwhile MD Kweku Asante Berko who embarrassingly resigned over allegations of a US2.5 million bribery scandal by the American Securities and Exchange Commission (SEC).

Francis Boateng fills the MD position which has been vacant since April 15, 2020 following the unceremonious exit of the scandal-ridden former MD. The new MD will be the third to occupy that position in less than two years, after his predecessors have exited following scandals and allegations of corruption at TOR.

Before his appointment by the President to man the controversial state refinery, Mr. Boateng was the General Manager for Commercial Operations at the Ghana National Gas Company.

Mr. Boateng has over 20 years project-related work experience including extensive international experience in the petroleum and power industries working on projects located in countries such as Saudi Arabia, Abu Dhabi, Nigeria, the United Kingdom and Ghana.

He will be expected to stem the spate of alleged official corruption that has virtually rendered TOR comatose.

His immediate predecessor Asante Berko was fingered by the SEC for channelling some US$2.5 million bribe to government officials between 2015 and 2016 so that they can approve the power producer contract of Turkish power company Enerji Uretim AS (AKSA).

The transaction which spanned between 2015 and 2016 was coordinated by Berko who was then a top banker a when he was a banker at Goldman Sachs.

“Berko schemed to bribe various government officials in the Republic of Ghana (“Ghana”) so that a client of the Subsidiary, a Turkish Energy Company (the “Energy Company”), would win a contract (the “Power Purchase Agreement”) to build and operate an electrical power plant in Ghana and sell the power to the Ghanaian government (the “Power Plant Project” or “Project”). To effect the corrupt scheme, Berko arranged for the Energy Company to funnel between $3 million to $4.5 million to a Ghana-based company (the “Intermediary Company”) to bribe various government officials responsible for approving the Power Plant Project,” the SEC stated.

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