Ghana Gas Rejects Procurement Allegations, Defends Insurance Contract Changes

Ghana National Gas Company (Ghana Gas) has moved to dispel allegations of procurement irregularities, insisting that recent changes to its insurance arrangements were lawful and in line with established regulatory procedures.

In a statement issued on April 13, the company said media reports suggesting impropriety in its procurement processes were unfounded, clarifying that the concerns largely stem from the appointment of a new lead insurer following the expiration of previous contracts at the end of last year.

“The Company wishes to categorically assure the general public that no wrongdoing has occurred,” management stated, emphasizing that the revised insurance structure forms part of an enhanced risk management strategy aimed at protecting its assets.

Ghana Gas further underscored that all contracts awarded have received the necessary approvals from the Public Procurement Authority (PPA), backed by commitment authorizations from the Ministry of Finance Ghana. This, the company noted, demonstrates strict adherence to Ghana’s procurement laws and governance standards.

The clarification comes at a time when scrutiny of state-owned enterprises has intensified, particularly in relation to contract awards and financial management. Analysts say such developments often draw public attention due to the strategic importance of institutions like Ghana Gas in the country’s energy sector.

Reaffirming its operational mandate, the company said it remains focused on delivering gas efficiently to meet Ghana’s energy demands, a critical component in sustaining thermal power generation and industrial activity.

Ghana Gas also pledged to continuously review and strengthen its internal systems, noting that robust corporate governance, compliance, and risk management remain central to its operations.

The statement was signed by Richard Ernest Kirk-Mensah, Head of Corporate Affairs, on behalf of the Board and Management.

 

 

 

 

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