Ghana Exim confirms Shatta & Agya Koo contracts

The Head of Corporate Affairs of the Ghana Exim Bank, Richard Osei Anane, has confirmed the existence of one-year brand ambassador contracts between the bank and showbiz personalities Agya Koo and Shatta Wale.

However, Mr Anane says the figures (GH?2million for Shatta Wale and GH?250,000 for Agya Koo) – which have been widely reported as the value of the respective contracts are not accurate.

He also disclosed that the company has already paid 15% of the actual worth of the respective contracts to the personalities.

In a statement, the bank said the pair were contracted as influencers for a campaign to promote the production of local products and services to enhance export revenue generation. The campaign dubbed ‘Made-In-Ghana 4P’ was launched on Sunday, August 30, 2020.

“In brief, Indeed we have signed contracts with the two artists who are renowned in their own field but they have not even started their roles. For the fact that it is a contractual agreement between two parties, we cannot disclose any content,” Mr Anane said in an interview on Joy FM.

“We have signed a contract with the two artists, we have contract obligations, we cannot disclose the amount but all that we want to say is that the amount quoted is not correct. I can’t disclose it because of contractual obligations”.

He, however, assured that the contract had “passed through procurement procedures” and has “not yet started”. 

Background

The existence of the contracts first came to light at the Public Accounts Committee (PAC) of Parliament on Wednesday when Kumbungu MP Ras Mubarak raised concerns over a GH?2million payment to Shatta Wale (known privately as Charles Nii Armah Mensah).

He said it was not prudent for Exim Bank to pay such an amount to an artiste to promote products made in Ghana.

“I mentioned GHS2 million that went to Shatta Wale but the Deputy CEO says they wouldn’t know who the vendor selected. And this is not to say that we have a problem with Shatta Wale getting some amount of money to do whatever work. But the Ghanaian public deserves to know how much went out and who got it because their answers were not satisfying.”

But in response to the query, Deputy Chief Executive Officer of the bank, Kwame Adu-Darkwa, said the bank had contracted a media consultancy outfit to deal with the matter.

He insisted that the dancehall musician was not paid directly by the Exim Bank.

“You will be surprised how brand ambassadors can be good for promoting a particular sector. Sometimes what needs to be done is that if you have done incredible work, it will be good for people to know what their options are, and having a good brand ambassador to do that makes sense.”

On his part, the Chairman of the Committee, James Klutse Avedzi said the Committee will soon invite officials from the bank to provide details of the said payments to the dancehall artiste and other brand ambassadors.

About Exim Bank

The Ghana Export-Import Bank Act 2016 Act 911 established the Ghana Exim Bank to bolster the government of Ghana’s quest for a feasible and sustainable export-led economy.

The object of the Bank is to support and develop directly or indirectly trade between Ghana and other countries and build Ghana’s capacity and competitiveness in the international market place.

Source: Graphic