Renowned Investigative Journalist, Manasseh Azure Awuni has retracted excerpts of his new book that claimed Businessman Ibrahim Mahama was indebted to Merchant Bank at a time when it was due to be sold.
In his latest book, ‘The President Ghana Never Got’ Manasseh claimed that Mr. Ibrahim owed the Merchant Bank bank some money which generated public commentary.
“The Universal Merchant Bank (UMB), formerly stated owned Merchant Bank, generated uproar in 2013 when it was sold to a private equity firm, Fortiz. At the time, FirstRand Bank of South Africa was said to be willing to pay Ghc 176 million for 75% of the Merchant Bank’s shares, while Fortis offered only Ghc. 90million for the 90% of the shares in the state-owned bank. The controversy deepened when it emerged that a brother of President Mahama, Ibrahim Mahama, was one of the big debtors of the then Merchant Bank, which resulted in the bank’s struggles,” the excerpt in question had read.
Writing to Manasseh on the subject, the lawyer for Mr. Mahama pointed out that his client had never personally benefited from any loan facility from Merchant Bank.
He demanded that pages 98 and 99 in the book be taken down as they had lowered his client’s reputation “as an honest businessman in the eyes of well-meaning Ghanaians”.
Following warning to retract and render an apology, Manasseh acknowledged the fact that the said amounts of money that had been owed to bank, was in fact on account of Engineers and Planners and not the businessman himself.
“The fact is that the $28 million debt I referenced was owed by his company, Engineers and Planners Company Limited, the legal entity, and not Mr. Mahama personally.
“Consequently, I retract the said reference to Ibrahim Mahama as the debtor and apologize for any adverse effect that may have been occasioned by said publication. Mr. Awuni stated.
Mr. Awuni revealed steps had been taken to make corrections “in the online version of the book and in subsequent reprints”.
Starrfm.com.gh
