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🇬🇭 Ghana /Elections & Politics

I don't own Kempinski – Paul Afoko clarifies hotel business interest

From Daily Graphic · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

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  • Paul Afoko, a candidate for National Chairman of Ghana's New Patriotic Party, denied owning the Kempinski Hotel in Accra.
  • He clarified that he has a business interest in the luxury property, which was financed through loans and equity from four partners.
  • Afoko also discussed his focus on business interests, including hospitality investments and farming, during his decade away from active politics.

Paul Afoko, a contender for the National Chairman position within Ghana's New Patriotic Party (NPP), has publicly addressed persistent speculation regarding his ownership of the Kempinski Hotel in Accra. In an interview with Channel One TV, Afoko clarified that while he does not outright own the luxury hotel, he does possess a business interest in it.

Afoko explained that the hotel's development was funded through a combination of loans and equity. He detailed that four partners contributed a small amount of equity, with the majority of the financing secured from loans provided by the African Development Bank and Ecobank.

I don't own Kempinski Hotel. I can't own it outright, but I have an interest in it. That I'm not going to run away from.

— Paul AfokoPaul Afoko clarifying his business interest in the Kempinski Hotel to Channel One TV.

During his ten-year hiatus from active politics following his suspension as NPP National Chairman, Afoko stated he redirected his attention to managing his business ventures. These included investments in the hospitality sector and a foray into farming. When asked about his time away from politics, Afoko admitted to missing the arena but maintained significant self-restraint regarding public commentary on political matters.

We built it on loans, a little bit of equity.

— Paul AfokoPaul Afoko explaining the financing of the Kempinski Hotel project.
DistantNews Editorial

Originally published by Daily Graphic in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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