Nduom company suing government for unpaid debt

General News of Wednesday, July 10, 2019

Source: citinewsroom.com

2019-07-10

Ghana Growth Fund Limited (GGFL), a subsidiary of the Nduom Group, has sued the government for debts owed to it.

The company is seeking to recover about 7 million ¢ with the interest of the government.

On July 9, 2019, the Minister of Finance, the Minister of Highways and Highways, the Attorney General, were joined by two separate legal actions.

Private companies; Agyakot Company Limited and Reggio Company Limited also appeared in the lawsuits against GGFL to recover different amounts.

The company is looking for 4,416,719.37 GH ¢ allegedly from Agyakot Company Limited and 2,450,575.18 GH ¢ allegedly from Reggio Company Limited.

Citéewsroom.com is asking GGFL to demand that the sums of money "correspond to the total nominal value of the interim payment certificates acquired but not paid" under the road contracts.

The company is also seeking "damages for breach of contract".

About Ghana Growth Fund Company Limited

Ghana Growth Fund Company Limited is a private equity and venture capital firm specializing in investments at all stages of a company's life cycle, including start-ups, recapitalizations, leveraged acquisitions, acquisitions by management, acquisitions, expansion and development, strategic investments in minority shares, private equity investments, mergers and acquisitions, acquisitions and acquisitions and financing of growth capital.

The company also invests in equities and transactions involving equity, debt and special situations. It generally invests in small and medium-sized enterprises in infrastructure development, non-bank financial institutions, information technology, manufacturing, and so on.

The company is a subsidiary of the Nduom Group which manages various other companies including GN Bank, First National Togo, First National Ivory Coast, GN Reinsurance, GN Life Assurance, Gold Coast Fund Management, Gold Coast Brokerage, PenTrust and Liberian Enterprise. Development Finance Corporation.