List of VRA’s debt to 13 banks

14 July 2016 at 11:22

According to documents from the VRA, this is the total amount of money owed to 13 banks as at March 2016, consisting of Standard Chartered Bank, Unibank, Ecobank, UMB, Zenith Bank, GT Bank, UBA, Access Bank, Stanbic, Fidelity Bank, First Atlantic Bank among others.

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The Volta River Authority’s total debt to financial institutions currently stands at 1.1 billion dollars.

Below is the breakdown of debt to each institution:

103 million to Ecobank

81 million to Stanchart

85 million dollars to Unibank

30 million to Zenith Bank

170 million to Sahara Energy

20 million to UBA

53 million to UMB

92 million to CAL Bank

39 million to Access Bank

31 million to Stanbic Bank

13 million to Fidelity Bank

31 million to First Atlantic Bank

6.6 million to Ghana International Bank

Apart from the 1 billion dollars owed to the 13 banks, the VRA also owes gas providers like N-Gas and Ghana National Gas Company a total of 500 million dollars.

N-Gas alone is owed 166 million dollars from August 2014 to January 2016, while Ghana Gas is owed a total of 246 million dollars between December 2014 to December 2015.

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