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Ghana loses billions due to NPP negligence – Ex-GNPC boss

Former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC) Alex Mould has accused the Akufo-Addo-led government of state capture in the agreement with Hess Ghana.

He said GNPC signed an agreement with Hess Energy to pay for 10 per cent of the shares once the legal tussle with Ivory coast over the countries’ maritime boundary was over.

Ghana was required to pay $40 million to earn the accruing revenue of $2 to $3 billion. But Ghana failed to pay for the shares thereby forgoing the revenue.

Alex Mould argues that since Ghana did not pay for the shares, the revenue went to a foreign entity, a situation he is convinced was deliberate for corrupt reasons.

“I believe it is state capture because anybody who is truly a Ghanaian would not want 10 per cent what is due the state to be given to a foreigner or the private sector,” he stated in an interview with Nuong Faalong on TV3’s Hot Issues, scheduled to be aired at 12:30pm on Saturday, October 12.

“This is stealing assets from the state and giving to the private sector which is wrong.” Hess Ghana has since been taken over by Aker Energy.

Mr Mould accused the New Patriotic Party (NPP) of scaring away the right investors as a result of the “dubious” approach to investor relations.

He believes the “dubious” nature of transactions is the main reason companies in the energy sector back out of tenders.


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Paul Mensah Makiso Dalibabu

I am a versatile Journalist, News Editor at My News Ghana, Technology Entrepreneur and Motivational Speaker. I believe my work as a Journalist,Entrepreneur and Motivational Speaker are calls and I do them with PASSION, thereby live up to the ethical standards of the professions. Am also known by friends as Paul Lingual. Contact me(

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