• GHANA NEARLY LOST $9 BILLION TO ARBITRARY CLAIMS IN LAST FOUR YEARS – ATTORNEY GENERAL

  • Nov 6 2024
  • Length: 19 mins
  • Podcast

GHANA NEARLY LOST $9 BILLION TO ARBITRARY CLAIMS IN LAST FOUR YEARS – ATTORNEY GENERAL

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  • The Attorney General, Godfred Yeboah Dame, has disclosed that Ghana nearly lost a colossal amount of $9 billion to arbitration claims against the government over the past four years. According to him, this amount could have collapsed the country’s economy, but the claims were ultimately dismissed in favour of Ghana due to strong legal defenses. The Attorney General said this at the opening of the maiden Public Sector Lawyers Conference in Accra. Some arbitration cases against the country over the years include; The Ghana vs. International Finance Corporation (IFC) case (2020) when Ghana was involved in arbitration over a dispute with the (IFC), which had invested in Ghana’s energy sector. In 2019, there was a case between Ghana National Petroleum Corporation (GNPC) and Aker Energy, in that case, there was a dispute between the Ghana National Petroleum Corporation (GNPC) and Aker Energy, a Norwegian oil company, over an exploration agreement in the deep-water offshore oil fields.
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