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Revealed – Two companies owned by Afenyo Markin allegedly defaulted on loan obligations

February 4, 2025
in Top Story, News
Revealed – Two companies owned by Afenyo Markin allegedly defaulted on loan obligations

Afenyo Markin

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It has been alleged that two companies owned by the minority leader Alexander Afenyo Markin have allegedly defaulted on their loan obligations.

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According to Ghana Crimes, alleged Afenyo Markin’s Square Logistics GH LTD defaulted a GHS 18,462,405.96 and Excel Courier a GHS 3,975,226.27.

Ghana Crimes also claimed in 2015, that Afenyo Markin boldly demanded a bribe of GHS 1 million to manipulate legal proceedings and have a case he was handling dismissed.

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They accused the minority leader of pocking GHS 250,000 from the case.

Ghana Crimes added in their post, “The assertion was clear: once that case was tossed out, no aggrieved party would have the standing to pursue the matter in court again, as established by a ruling from the Supreme Court”.

According to the the case in question the ADB’s Initial Public Offer(IPO). The case was finally withdrawn from the SC.

Afenyo Markin has come under scrutiny from the public after he revealed he bought his Winneba land some 25 years ago, and at the age of 46 meaning he was 21 when he acquired the property.

Meanwhile, speaking on JoyNews’ The Probe on Sunday, February 2, Afenyo Markin narrated how he made his money, “In 1997, after school, we had to stay home for two years. So I moved to Accra and found a place at Ghana Post, where I worked my way up,” he narrated.

He secured a scholarship to study at Cape Vas (Cape Cape University) but chose to abandon his education in 1999 after being introduced to entrepreneurship.“I left in level 300 to chase business opportunities,”

“I bought my first Mercedes and BMW early in my business journey, and I still have those cars parked. I started Excel Courier, which became a multi-million-dollar investment. Standard Chartered Bank gave me a $5 million facility, and Barclays Bank granted me $10 million,” he disclosed.

Afenyo Markin further disclosed, “I am not one of those people who buy a property and put it in someone else’s name. I will never do that. My land in Winneba is not state land. The search report brought forward was misleading”.

See the post below:

Two companies owned by Afenyo Markins have repeatedly defaulted on their loan obligations.

– Square Logistics GH LTD: GHS 18,462,405.96
– Excel Courier: GHS 3,975,226.27

In 2015, he boldly demanded a bribe of GHS 1 million to manipulate legal proceedings and have a case he… pic.twitter.com/kNwWlpdHyx

— Ghana Crimes Ltd. (@GhanaCrimes) February 3, 2025

Tags: Alexander Afenyo-Markinloan obligations
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