Gyamfi revealed that the deal struck under the Mahama administration was a build-operate-transfer (BOT) contract, a financial strategy that allowed the company to fund the expansion and development of the port and manage it for 15 years, after which it would hand full control back to the government.
“Recently, Sarkodie’s wife was heard expressing ignorance as to why Mahama is selling the Tema Port. However, Build-Operate-Transfer (BOT) is not the same as selling the port. It is a financial strategy for government projects that avoids up-front investment. The company in question was first awarded a 20-year concession by the Kufuor administration in 2004.Gyamfi explained this in an interview on Adom TV in Twi language.
He went on to explain that Mahama’s negotiations would allow the company to use the funds to strengthen the port, with the state regaining full ownership by 2030. “Currently, the state still owns a percentage. It’s important to clarify this because there’s been misinformation circulating,” he added in the video below.
In his comments, Tracy highlighted the government’s 15% stake in the port of Tema and claimed the French billionaire exerts significant control over the port. “The government’s stake in the port of Tema is currently only 15%. We have had no say in what has happened in our port since 2014. The port is owned by French billionaire Bollore, who owns 17 ports in West Africa,” his post said, citing a 2021 Africa Confidential report.
Reactions to Tracey’s post have been polarized, with some supporting her position and others criticizing it. Sammy Gyamfi’s rebuttal aims to set the record straight regarding the nature of the BOT contract and the ownership of Tema Port, highlighting the importance of accurate information in public debate.