Minority Leader and Member of Parliament for the Effutu constituency, Alexander Afenyo-Markin, has responded to resurfaced reports about his past business debts, emphasizing that he has fully settled all outstanding obligations.
Speaking in an interview on GHOne TV’s State of Affairs with Lantam Papanko, Afenyo-Markin addressed the claims, describing them as outdated publications from nearly a decade ago. He explained that like any business, his companies, Square Logistics, and Excel Courier, faced financial challenges but ultimately honored all commitments.
“In the life of every business, you go through low moments,” he stated. “I started dealing with Access Bank and Intercontinental Bank in 2009. They financed some trucks for my business. Along the line, we defaulted on loan repayments, and we even sued Access Bank on some issues. However, we resolved it and settled the matter legally.”
The MP clarified that while his companies had financial struggles around 2014-2015, they had since cleared all debts. “Access Bank was paid long ago. My company does not owe them. Both Square Logistics and Excel Courier fully settled their obligations,” he confirmed.
Beyond Access Bank, Afenyo-Markin revealed that his businesses also had financial dealings with Standard Chartered Bank, Barclays, and the National Investment Bank (NIB). “We owed Standard Chartered and defaulted, but we finished paying over $4 million. Our loan with NIB was also fully settled. When you pay off your loan, the bank releases your collateral and notifies the credit bureau that you no longer owe,” he explained.
Highlighting his extensive business experience, Afenyo-Markin noted that he had managed a group of companies involved in courier, logistics, and transport, working with major clients such as Ghana Bauxite and Ghana Manganese. He also detailed his role in introducing large-capacity Mahmoud trucks and trailers into Ghana from Dubai and Turkey.
Concluding his remarks, the MP reaffirmed his financial integrity. “It’s normal for businesses to owe at some point, but what matters is that I paid. I am a person of substance, and I stand by my assets,” he stated.
