Finance Ministry replies Trafigura over $134m judgement debt

The Ministry of Finance has assured it is on course to pay the $134 million judgment debt owed to Oil conglomerate Trafigura.

In a statement, the Ministry confirmed that the necessary steps had been taken to address the payment issues.

“We have made the necessary arrangements to pay off the outstanding claims agreed with Trafigura after several rounds of negotiations,” the statement read, reassuring the public that the government remains committed to honouring its obligations.

This follows a petition by Trafigura, expressing concerns and threatening to seize Ghana’s assets in South Africa if the $111 million arrears are not settled.

In the letter addressed to the Minister of Finance, Dr Adam Amin, Trafigura urged the government to finalise the settlement this week to avoid further legal action, emphasising their preference for an amicable resolution.

The company has already taken control of one of Ghana’s key commercial properties, Regina House in London, after the government failed to pay a $134 million judgment debt.

This debt arose from the termination of a power purchase agreement, which led to a legal dispute between Trafigura and the Government of Ghana.

 Read the Finance Ministry’s statement below: