Eximbank Would Have Sued Chairman Wontumi If Indeed He Defaulted Any Loan- Kwame Nkrumah Tikese Debunks Allegations

Kwame Nkrumah Tikese has come to Chairman Wontumi’s defense after another allegation surfaced, claiming that Wontumi received a staggering 10 million in funds from Eximbank for a maize project, which he allegedly failed to execute and subsequently couldn’t repay.

However, a deeper dive into EXIM’s practices reveals a more nuanced situation. During that period, the government was actively providing loans for agricultural projects, but with certain conditions. Borrowers were required to provide collateral to secure the loan, and a farm manager was assigned to ensure the project’s success. Additionally, the projects were insured to mitigate risks.

Kwame Nkrumah Tikese has come to Chairman Wontumi’s defense after another allegation surfaced, claiming that Wontumi received a staggering 10 million in funds from Eximbank for a maize project, which he allegedly failed to execute and subsequently couldn’t repay.

However, a deeper dive into EXIM’s practices reveals a more nuanced situation. During that period, the government was actively providing loans for agricultural projects, but with certain conditions. Borrowers were required to provide collateral to secure the loan, and a farm manager was assigned to ensure the project’s success. Additionally, the projects were insured to mitigate risks.

“Given these safeguards, it’s likely that if Chairman Wontumi had indeed taken a loan from EXIMBANK for an agricultural project and defaulted due to unforeseen circumstances, EXIMBANK would have taken him to court for defaulting payment. Yet, our investigations turned up no evidence of any lawsuit against him,” the host said. 

This raises questions about the validity of the allegations and suggests that the truth may be more complex than initially meets the eye.