PSC Tema Shipyard under fire over unpaid rent, questionable $500,000 payment  

The Public Accounts Committee (PAC) of Parliament has launched an investigation into PSC Tema Shipyard, over an alleged unpaid ground rent arrears and a contentious $500,000 payment made to the Ghana Ports and Harbours Authority (GPHA).   

The shipyard owes GPHA $6.6 million in ground rent, despite being obligated to pay GH¢6,000 annually over a 25-year lease period per the Auditor-General’s report.  

The Auditor-General’s report showed that the payment of $500,000 was made to GPHA in 2024.  

At PAC’s public hearing in Parliament on Tuesday in Parliament House, Accra, Alhaji Osman Sulemana, the Chief Executive Officer (CEO) of PSC Tema Shipyard, attributed the non-payment of ground rent to financial difficulties and explained that the payment was made under the previous administration.   

“Mr Chairman, the current management is reviewing the transaction to establish the circumstances surrounding it,” he said.   

However, Mr Eric Edem Agbana, a member of the PAC, questioned the propriety of the arrangement.  

He said, the revelations from the CEO were serious issues, because it showed that it was a staff on secondment from GPHA who made that payment back to GPHA, which indicated issues of conflict of interest.  

PAC therefore directed PSC Tema Shipyard to submit relevant documentation and provide explanations regarding the transaction.  

The two-day PAC public hearing held between January 12 and 13, 2026 to consider the reports of the Auditor-General on the Public Accounts of Ghana ministries, departments, and other agencies for the year ended December 31, 2024, ended on Tuesday.  

In her closing remarks, Madam Abena Osei-Asare, the Chairperson of PAC, expressed her appreciation for the support of various stakeholders.   

“The Committee expresses gratitude to the Auditor General, audit service, auditees, parliament, media, and security agencies,” she said.  

Madam Osei-Asare emphasised that transparency, accountability, and good public financial management were crucial for Ghana’s development.   

She noted that the PAC in the new year was focused on maintaining high standards and supporting the executive and judiciary in effectively managing public finances.  

She also commended the Committee’s commitment to making their work visible and impactful.  

Source: GNA  

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