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RADP / Pulse Ghana  >  news  >  business

I have no supply contract with COCOBOD – McDan CEO

Magdalene Teiko Larnyoh

The Chief Executive Officer of  McDan Shipping Company Daniel McCauley said the assertion by the Minority in Parliament that he leveraged on a perceived relationship with the finance minister to secure a loan is false.

He described the assertion by the Minority in Parliament that he leveraged on a perceived relationship with the finance minister to secure a loan as false.

Speaking on Accra-based Starr FM McCauley said he does not have “any supply contract with COCOBOD.”

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“The arrangement was purely a business transaction. The accusations are palpably false and the minister could not have usurped the powers of the ADB board.”

“I don’t have any supply contract with COCOBOD. I am a client of ADB and I got the credit facility based on merit. I am a businessman and will not do anything to dent the reputation of my business”.

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His comments follow allegation from the Minority in Parliament that the Finance Minister usurped the authority of the board of ADB in the approval of a loan facility to McDan Shipping Company Limited.

However, the Finance Minister has denied any wrongdoing in the dealing in the approval of the loan.

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Magdalene Teiko Larnyoh Magdalene Teiko Larnyoh A feminist at heart and a lover of art. She loves to write on business, politics and health.

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