Data obtained through a Right to Information (RTI) request and confirmed by arbitration records reveal that Ghana has lost over GH¢2.5 billion in judgment debts. These payments have been made to over 60 individuals and organizations, often due to the wrongful cancellation of contracts by government authorities. This staggering amount represents funds that could have been channeled into critical sectors such as infrastructure, healthcare, and education.
According to the RTI document reported by graphic.com.gh, the government paid over GH¢278 million in judgment debts between 2017 and 2019 alone. In the period from 2020 to 2022, an additional GH¢22 million was paid out. These figures do not include the judgment debts awarded against Ghana from 2023 to 2024, indicating that the financial impact is even more severe.
The data from 2017 is particularly striking, with over GH¢111 million paid out in that year alone due to judgment debts. This breakdown of payments highlights the ongoing and escalating financial burden that these debts impose on the nation.
As Ghana confronts these significant financial challenges, the issue of judgment debts remains a critical and pressing concern. It underscores the need for more stringent oversight and management by government officials to prevent further losses that could stymie the country’s development efforts.
2017:
The RTI document indicated that in 2017 alone the government paid over GH¢111 million in judgement debts. Below is a breakdown of the payment made in 2017:
2018:
In 2018, the government paid more than GH¢153 million in judgement debts.
2019:
The government paid more than GH¢13 million in judgement debts in 2019 to 10 individuals and entities:
2020:
In 2020, the government of Ghana paid nearly GH¢19 million in judgement debts to 15 entities:
2021:
For 2021, the government paid approximately GH¢358 thousand to two entities as judgement debt:
2022:
For 2022, over GH¢2.8 million in judgement debts was paid to two entities:
2023:
The $134 million Trafigura’s Ghana Power Generation Company (GPGC) judgment debt was awarded against Ghana in 2023 by a UK court and reaffirmed by a US court in 2024.
The $134 million using the current exchange rate translates to over GH¢2 billion.
2024:
In 2024, two judgment debts have been awarded against the government: the GH¢95 million judgement debt and the GH¢94 million Tobinco judgement debt which was slapped on the FDA.
These two debts sum up to about GH¢189 million.