The Chief Executive of the Savannah Accelerated Development Authority (SADA), Alhaji Gilbert Seidu Iddi has indicated that the authority will soon hold a press conference to lay bare facts, on how the GHS 15m has been invested. He did not set a date for the press conference.
Speaking on Joy FM’s Super Morning Show Tuesday, Alhaji Iddi explained that SADA has since October/November 2012 entered into a joint venture with Azontaba Cottage Industry (ACI) to form a subsidiary company called SADA Azontaba Guinea Fowl Production and Marketing Company.
According to him, the company is a “full scale commercial modern hatchery” with the sole purpose of producing and marketing guinea fowls.
The subsidiary company, he assured, has been duly registered with the Registrar General’s Department.
With the GHS 15m invested in the venture, SADA has a 40% stake in the subsidiary entity while ACI holds the majority share of 60% or GHS 25m in investments. This agreement means that ACI and SADA each have three and two persons respectively on the 5-member Board of Directors of the company.
Another project which SADA has started arrangements to enter into is a solar farm with Solagiga Energy Holdings Ltd, a Chinese company, at Kokojira for the production of solar energy which will be fed into the national grid.
Alhaji Iddi’s decision to hold a press conference on the facts of the investments come in the wake of reports and heightened public interest about the specifics on how funds have been expended in the guinea fowl and other projects.