University of Ghana refutes claims over $160M judgment debt.

The University of Ghana has refuted claims that it has been directed to pay $160millionin Judgement debt to Africa Intergras.

The University of Ghana is reported to have been directed by a ruling from an International court to pay $160million judgment debt for unlawfully terminating a contract with Africa Integras. The project started under the regime of the former Vice-Chancellor, Professor Ernest Aryeetey in 2014.

Africa Integras, is a company that works with government, investors, and banks to secure financing for education-based projects. In 2014, the company was awarded a contract by the University of Ghana to construct 1,000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus.

However, a Press statement from the University of Ghana says matters relating to its contract with Africa Integras are yet to determined.

“The Africa Integras Project, including matters relating to the substantive and procedural merits of the contract, has not been determined by an arbitrator,” the University’s statement said.

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 The statement further assured stakeholders of their commitment to act in the best interest of the University.

“Management of the University, therefore, urges calm and assures all stakeholders that it is taking all necessary and reasonable steps to secure the best interest and future of the University of Ghana,” it added

Africa Integras, is a company that works with government, investors, and banks to secure financing for education-based projects. In 2014, the company was awarded a contract by the University of Ghana to construct 1,000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus.

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The University, back in 2014, entered into a Public Private Partnership (PPP) agreement with Africa Integras to invest US$64 million in the construction of 1,000 new students’ hostel beds for undergraduate and post-graduate students on the Legon campus.

The project was structured as a 25-year Build, Operate and Transfer (BOT) contract.

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