Financial Analyst Sydney Casely Hayford has described as \u201ccheap\u201d the selling price for the former Head office of the Adb bank in Accra.<\/p>\n
[contextly_sidebar id=”PA6DkFZBfZBqkkM4eGn5Vt6fLuoC9IUS”]The office complex, which is being sold for $10 million dollars has become a subject of controversy after staff of the company protested against the sale of the property.<\/p>\n
The management of the company at a press conference last week announced that the\u00a0 bank was yet to complete the sale of its former headoffice though they had moved to the plush Accra Financial Centre at a rented cost of about one million Ghana cedis a month.<\/p>\n
Workers of the company had accused Adb\u2019s management of selling the building and renting a new\u00a0one which cost the company GH\u00a21 million per month.<\/p>\n
At a press conference to address the allegations, Managing Director of the bank Stephen Kpordzih said though they had intended to sell the building, the highest bidder failed to pay the amount.<\/p>\n
Speaking on the Citi Fm\u2019s news analysis programme, the Big Issue, Sydney Casely Hayford believes that the bank could have renovated the complex and sold it at a much higher price.<\/p>\n
\u201cFrankly for $10 million for that property sitting on the independence avenue, of that size, I think it\u2019s very cheap. And for me what I would rather have done is to borrow about $5 or 7 million that is if that is what it will take, revamp the whole property, put up a new building maybe and sell it at a much higher price. You would have recovered your $5 or 7 million very easily and you can go ahead and re-house everybody in\u00a0 the new property that you are looking for,\u201d he said.<\/p>\n
–<\/p>\n
By: Franklin Badu Jnr\/citifmonline.com<\/p>\n","protected":false},"excerpt":{"rendered":"
Financial Analyst Sydney Casely Hayford has described as \u201ccheap\u201d the selling price for the former Head office of the Adb bank in Accra. [contextly_sidebar id=”PA6DkFZBfZBqkkM4eGn5Vt6fLuoC9IUS”]The office complex, which is being sold for $10 million dollars has become a subject of controversy after staff of the company protested against the sale of the property. The management […]<\/p>\n","protected":false},"author":24,"featured_media":65288,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[43,38],"class_list":["post-113313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-foresight-medical-center","tag-palaver-newspaper"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/113313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=113313"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/113313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/65288"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=113313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=113313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=113313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}