The Government of Ghana has reaffirmed its commitment to settle an outstanding USD111 million judgment debt owed to oil giant Trafigura, following concerns about delayed payments raised on social media.

The debt stems from a power purchase agreement dispute that has escalated to threats of asset seizure in South Africa and the United States.

Responding to a petition from Trafigura’s subsidiary, the Ghana Power Generation Company (GPGC), in a statement issued on Tuesday, 24 September 2024, the Ministry of Finance assured that arrangements had been made to clear the debt.

This assurance followed Trafigura's warning that further delays could prompt the seizure of Ghanaian properties abroad.

“We have made the necessary arrangements to pay off the outstanding claims agreed with Trafigura after several rounds of negotiations. We are surprised at the circulation of this letter on social media.

“The Government of Ghana remains committed to honouring its obligations under the Settlement Agreement with Trafigura to bring this matter to closure,” the Finance Ministry's statement said.

The dispute dates back to a January 2021 ruling by a UK tribunal, which found the Government of Ghana liable for breaching a 2018 power purchase agreement with GPGC.

The tribunal awarded GPGC USD134 million, of which only USD23 million has been paid.

In August 2024, Trafigura briefly seized Ghana's Regina House in London as part of efforts to recover the debt.

GPGC’s recent petition, which was also sent to Ghana’s Attorney General, Godfred Yeboah Dame, warned of further asset seizures if the outstanding balance is not settled.