The Ghana EXIM Bank has denied dolling out dancehall musician, Shatta Wale, GH₵ 2 million to play an ambassadorial role meant to promote made-in-Ghana goods.
But it declined to state how much it has paid members of the creative industry, including actor, Kofi Adu, who is popularly known as Agyaa Koo. He reportedly received GH₵ 250,000.
But a day after the disclosures at the Public Account Committee, generating huge storm, the bank says the figures have been highly exaggerated.
In a statement released on Thursday, the bank said “I have paid no amount of such magnitude to any ambassador or influencer.”
Members of the Public Accounts Committee (PAC) on Wednesday raised red flags over claims that the Ghana EXIM Bank paid GH₵2 million to dancehall musician Shatta Wale, known in private life as Charles Nii Armah Mensah Jnr, for a brand ambassadorial role.
Shatta Wale and others in the entertainment industry were reported to have been contracted to promote made in Ghana products.
The EXIM Bank is a state entity established by an Act of Parliament to support the development of Ghana’s export trade, facilitate cross border trade and make Ghana a pillar in regional and continental trade.
However, speaking on Joy FM, its Head of Corporate Affairs, Richard Osei Anane, said contractual obligations would not allow the bank to disclose the amount involved.
“We have signed a contract with the two artistes. But we have contractual obligations. We cannot disclose the amount. All that we want to say is that the amount stated is not correct.
He, however, stated that the bank had paid 15% in advanced fees to the agency that won the bid to execute its campaign aimed at boosting the sales of companies that took its credit facilities.
The rest of the fees would be staggered but would only be paid based on performance, he said
He insisted that the developmental bank had met the benchmarks of public procurement before signing the deal, but was not willing to disclose the figures involved.
“We have passed through the procurement procedures to arrive at where we are.
“In terms of contract management, if you sign as agreement with a service provider, there is a percentage that you have to advance, there are certain deliverables that they have to deliver,” he explained.
“Shatta Wale is a huge brand and has his following. It is unfortunate that we are discussing a contract relation in public. It is not a lot of money that is being bundled about.
“We are indeed a public institution and using public funds, there are rules and regulations to ascertain how public institutions are using public funds, we are stating that we have not paid that amount to any ambassador or influencer,” he said.
Going into why the bank decided to sign the two artistes, he said after three and a half years, the bank decided to showcase what it had achieved through interventions in the manufacturing sector.
Management of the bank in January this year, therefore, decided to promote made-in-Ghana goods.
To meet its procurement obligations, he said the bank invited bids through a procurement process that selected an agency which submitted a proposal for the campaign.
The campaign was to be activated in April but was shelved because of COVID-19.
The campaign was launched on August 30, but he said the ambassadors and influencers were yet to start their work.
“The idea is that we have helped finance a lot of factories and they are producing. Our mandate is to help promote their goods so they can pay back the loans given them.
“We are not a commercial bank, but a development and policy bank which gives loan term loans,” he said