ADB Loan I have no supply contract with COCOBOD – McDan CEO

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.

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The Chief Executive Officer of  McDan Shipping Company Daniel McCauley has said that he has no supply deal with Ghana Cocoa Board (Cocobod) as alleged by the Minority in Parliament.

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.”

READ ALSO: Gov’t to pay $279m or risk judgment debt

“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”.

READ ALSO: We will comment on SSNIT rot after expert advice - Minority

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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