A subsidiary of Groupe Nduom, Ghana Growth Fund Limited (GGFL), has dragged government to court over debt allegedly owed it.
The Company is seeking to retrieve a total of GHc4.4 million with interest from government.
Joined to the lawsuit issued on July 9, 2019, is the Minister of Finance, Minister of Roads and Highways, the Attorney General and a private company, Agyakot Company Limited.
GGFL in the writ sighted by citinewsroom.com is demanding the “recovery of the sum GHc4,416,719.37 being the total face value of the accrued but unpaid interim payment certificates due the 4th defendant [Agyakot Company Limited] under the roads contracts” as well as “Interest on the said sum of GHc4,416,719.37.”
The company is also seeking an award of “damages for breach of contract.”
About Ghana Growth Fund Company Limited?
Ghana Growth Fund Company Limited is a private equity and venture capital firm that specializes in investments at all stages of a company’s life-cycle including startups, recapitalizations, leveraged buyouts, management-led buyouts, buy-ins, expansion and development capital, mature stage, strategic minority equity investments, equity private placements, consolidations and buildups, buy and builds, and growth capital financing.
The firm also invests in property-level equity, debt and special situations transactions and businesses. It typically invests in small and medium-sized enterprises in infrastructural development, non-bank financial institutions, information technology, manufacturing, among others.
The company is a subsidiary of Groupe Nduom who manages a variety of other companies including GN Bank, First National Togo, First National Cote d’Ivoire, GN Reinsurance, GN Life Assurance, Gold Coast Fund Management, Gold Coast Brokerage, PenTrust and Liberian Enterprise Development Finance Company.
The post Nduom’s company sues gov’t over unpaid debt appeared first on Citi Newsroom.
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