KGL Group has reaffirmed its commitment to Ghana’s economic development and the ongoing renegotiation of its partnership with the National Lottery Authority (NLA), dismissing what it describes as attempts to undermine indigenous businesses through misinformation and public speculation.
In a statement signed by Dr. Razak Kojo Opoku and copied to the media in Accra, the company emphasized that the review of the NLA-KGL agreement is a legal and commercial process that should be handled through appropriate channels rather than through public commentary and media campaigns.
According to the statement, negotiations concerning major commercial agreements require professionalism, transparency, and adherence to established legal procedures.
“Renegotiations are not conducted on social media or in the media space. This is an important exercise that should be free from sensationalism, propaganda, and the distortion of facts,” the statement noted.
KGL also challenged claims made by investigative media outlet Fourth Estate regarding the NLA-KGL agreement, arguing that criticisms of the contract have not been supported by sufficient evidence.
The company stated that from the outset, Fourth Estate had consistently called for the cancellation of the agreement, describing it as unfavorable to the state.
However, KGL maintained that such assertions were never accompanied by detailed analysis or conclusive evidence to justify the call for abrogation.
The statement further referenced the government’s decision to establish a committee to review the agreement following concerns raised in the public domain.
According to KGL, the committee’s findings did not recommend terminating the contract but rather suggested a temporary suspension and renegotiation of the financial terms to ensure greater benefits for the Republic.
“The committee established by the President called for a stay of the contract and a renegotiation of the financial arrangements to improve value for the Republic and not solely for the National Lottery Authority,” the statement said.
KGL argued that attempts to equate the committee’s recommendations with previous calls for the outright cancellation of the contract were inaccurate.
The company stressed that there is a significant difference between recommending improvements to an existing commercial arrangement and advocating for its complete termination.
According to KGL, all parties involved in the renegotiation process remain committed to achieving an outcome that protects the interests of the state while respecting the legal rights and obligations of the contracting entities.
The company also urged stakeholders and observers to allow the review process to proceed without external pressure that could interfere with the committee’s work.
KGL noted that the renegotiation process is being treated with urgency but must still comply with the legal and commercial frameworks governing contractual agreements.
The statement concluded by reiterating the company’s commitment to supporting national development and promoting local enterprise.
KGL described itself as a proud corporate supporter of Ghanaian sports, including its sponsorship of the national football team, the Black Stars, and said it remains focused on contributing to the country’s economic growth rather than engaging in public disputes.
The company expressed confidence that the ongoing renegotiation process would ultimately strengthen the partnership and deliver improved value to the Republic while preserving investor confidence in Ghana’s business environment.
