Sheikh Al Maktoum refunds $2.4M to Ghana after botched Sputnik V deal

Sheikh Ahmed Dalmook Al Maktoum, the Dubai-based businessman the Ministry of Health contacted for the procurement of 300,000 doses of the Sputnik V vaccine, has refunded $2,470,000 to Ghana, according to documents sighted by OTECNews.

In a letter from Sheikh Al Maktoum, he said no funds had been drawn under the Letter of Credit.

He also said the Letter of Credit stands expired, as of June 2021.

Sheikh Al Maktoum is expecting a payment receipt once the funds have been credited into the government bank account.

The Minister of Health, Kwaku Agyeman Manu, has been under fire because of this transaction with calls for his resignation.

The controversy began when it emerged that the government was using the services of middlemen to procure 3.4 million doses of Russia’s Sputnik-V vaccines. 

But this was at a higher cost of $19 other than the original factory price of $10.

This prompted calls for the abrogation of the procurement contract.

The Minister had earlier claimed that the state had not made any payments for the vaccine.

But a parliamentary committee set up to probe the deal indicated that $2,850,000 representing 50% of the US$5,700,000 owed to Sheikh Maktoum for the eventual supply of 300,000 doses of Sputnik V vaccine was actually paid to him, although only 20,000 doses were delivered.

Source: Citi