GREL

GREL
‘Sherry Ayittey Played No Role In Divestiture’
Story:Stephen Sah

A Former Executive Secretary of the Divestiture Implementation Committee (DIC),Emmanuel Amuzu Agbodo, yesterday told the Accra Fast Track Court that Sherry Ayittey, treasurer of the 31st December Women's Movement (DWM), never played any role in the divestiture of the Ghana Rubber Estates Limited (GREL).He said Sherry Ayittey was not a member of the negotiation team constituted by the DIC for the GREL divestiture and she did not contact him as the Executive Secretary to do any favour to Societe Industrielle Plantation Hevea (SIPH), the French company that bidded for the GREL.Agbodo, who is standing trial with Sherry Ayittey and Ralph Casley-Hayford, a businessman, for playing various roles to influence the divestiture of GREL in favour of the French company, was testifying under cross-examination by counsel for Sherry Ayittey.All the three accused persons have denied the charges and are on self recognisance bail.Agbodo said that in 1996, he was the Executive Secretary of the DIC and after the GREL divestiture was completed, the Share Sale and Purchase Agreement was executed between the DIC and SIPH.Asked where the original agreement could be found, the accused said he believed a copy could be with SIPH and another with the DIC.When counsel gave him a photocopy of the agreement to identify, Agbodo said that could be a reflection of the original document because he had initialled it.The photocopied agreement was tendered in evidence.The accused further said a Shareholders Agreement which was dated May 12, 1997, was executed between the SIPH, GREL and the Government of Ghana.He said the original agreement could be found at the DIC offices, explaining that he was not a signatory to it, though.According to him, certain aspects of the divestiture of GREL were dealt with by an evaluation team constituted by the DIC .The team, he said, opened the sealed bids and evaluated them in accordance with the DIC's specifications and reported the status of each bid to the DIC.He said the evaluation team was then transformed into a negotiation committee to deal with the bidder as regarded the divestiture of the GREL.Asked how many members constituted the DIC in 1998, Agbodo said he could not remember that extempore because he did not have the records with him.Based on that, counsel prayed the court to subpoena the DIC for that information but he was asked to take steps to get the information.Following that, the court adjourned the case to November 16, 2004.