Controversial businessman Trevor Trefgarne is set to be re-elected to the directorship of the Enterprise group, a notice sighted by MyNewsGh.com has revealed.
According to the company Secretary of the Enterprise Group who bears a familiar surname, Sadia Chinery Hesse, the meeting that will re-elect Trevor Trefgarne amd others, among other issues tabled for discussion will be by online application.
Trevor Trefgarne became a controversial name in Ghana when the Minority in Parliament called for a full scale parliamentary probe into how some Trefgarne, a close friend of the Finance Minister Ken Ofori-Atta who is also his business partner purchased ninety five percent of Ghana’s recent 2.25 billion dollar bond.
At a press conference at the time, the Minority Spokesperson on Finance, Cassiel Ato Forson, claimed that a non-executive director on the board of investment firm, Franklin Templeton that purchased majority of the bonds is also the Chairman of the Enterprise Group; a company closely aligned to the private interests of the Finance Minister, Ken Ofori-Atta.
Ato Forson alleged that, the bond was conveniently prepared for the Minister’s friends and business partners to have easy access and enjoy the high eighteen percent to nineteen percent interest on the bond.
“Honourable Trevor Trefgarne is also a Director of Franklin Templeton which is the main participant in the recent bond issue. Putting this apparent fact together, we have a reason to believe that there was a relational interest between our Finance Minister and his good friend Trevor Trefgarne which creates a potential lack of transparency and a conflict of interest. As we all know, the constitution of the republic provides unequivocally that a public officer should not put themselves in a situation where their private interest conflicts with their public obligation. There is no record available to us to the effect that the Finance Minister made known publicly his relational interest that conflicts very much, so in the interest in his company with Trevor Trefgarne to the extent to which the relation might have potentially affected the decision to sell majority of the bonds to Franklin Templeton.”
“There is no disclosure as to the extent to which the determination of the price of the bond could have been affected by the relationship between the Finance Minister and his friends; Franklin Templeton. Now that a good link has been established between the Finance Minister and his friend, Trevor, it is clear that the Finance Minister issued the bond in a way that will favour his friends, family and business partners. This situation is best described as cronyism and nepotism,” Ato Forson said.
A court ruled that the Minority or anyone else for that matter had no case when a Civil Society Group DYMOG took up the matter.
Trevor Trefgarne is clearly enjoying his gains as he is set to be re-elected to continue his “good” works for Ghana and his and his cronies private pocket.