Kennedy Agyapong’s $3 Million Loan to finance NPP confirmed

Businessman William Oppong Bio has corroborated claims by New Patriotic Party (NPP) flagbearer hopeful Kennedy Ohene Agyapong that he contracted a loan to finance the party’s campaign in 1992.

The revelation came after another NPP flagbearer hopeful, Kwabena Agyei Agyapong, challenged Kennedy Agyapong for claiming he and his business partner contracted a $3 million loan to pay off debts accrued by the NPP following the 1992 general elections.

In an interview with Kumasi-based Sompa FM, Mr Oppong Bio, who was named by Kennedy Agyapong as his partner and witness, confirmed the incident. He noted that the loan was contracted from Cal Bank, which was then managed by Fred Oware, who is now the Chief of Staff at the Office of the Vice President.

“We paid the debt. When they went for the money and we lost the 1992 and 1996 elections, everyone ran away from it so we paid it; our company paid,” Mr Oppong Bio said. “The circumstances at the time caused our company to pay. Fred Oware, who is now at the vice president’s office, was the managing director at the time, and when they heard NPP had contracted a loan there, he had to hide it on our company account. That’s how it came about.”

Mr Oppong Bio added that the likes of Kwabena Agyepong may not have been privy to the matter because he was young at the time. “It was what caused Fred Oware to lose his job and why Rawlings wanted to imprison him. It is a very big issue. At the time, some people were young and would not have known about it. Even today, does all of us know what is happening in the NPP?” he questioned.

Kennedy Agyapong, who is now the Member of Parliament for Assin Central, has been touring the country and engaging with delegates of the NPP ahead of the party’s upcoming primaries to elect a flagbearer. In various interactions with the delegates, the MP has sought to highlight his contributions to the establishment and growth of the party, including financing its activities over the years.

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