Wontumi Blames Heavy Rains for Exim Bank Loan Troubles, Denies Wrongdoing

Bernard Antwi Boasiako, popularly known as Chairman Wontumi and the Ashanti Regional Chairman of the NPP, has said that natural disasters, not wrongdoing, caused the problems linked to the Ghana Export-Import (Exim) Bank case involving his company.

Speaking in an interview with Asaasepa Radio, Wontumi explained that he took a loan from Exim Bank in 2018 to develop a large-scale commercial farm in Sekyere.

“I’m ready to apologise wholeheartedly to Mahama if I have wronged him – Wontumi”

According to him, the loan was obtained through the proper banking process and was backed by collateral and insurance.

“On the back of the plea bargain, I want to clarify that in 2018 I went to the bank to secure funds in order to invest in a commercial farm I planned to establish in Sekyere. We applied as a company, provided the required collateral, and received a term sheet from the bank. They even directed us to an insurance company to cover the farm,” he claimed.

Wontumi said the project later suffered a major setback when heavy rainfall destroyed the maize farm.

“Unfortunately, heavy rains later destroyed the maize farm, a natural disaster beyond my control,” he claimed.

He also pointed out that his farming business was recognized nationally during the same year.

“That same year, we became first runner-up in the Farmers’ Day celebration, which shows that the farm was not a small venture but a significant operation.”

Wontumi insisted that he followed all the required procedures to secure the loan and rejected suggestions that he acted improperly.

Wontumi explains decision to appoint Atta Akyea as lead counsel

Court documents filed on May 15, 2026, allege that Wontumi Farms Limited received GH¢14.3 million from Exim Bank after applying for a facility worth GH¢18.7 million for a farming project that did not go ahead as planned.

Wontumi, his alleged relative Thomas Antwi-Boasiako, who is currently at large, and Wontumi Farms Limited are facing charges including defrauding by false pretences, forgery, money laundering, and causing financial loss to a public institution.

Defending himself, Wontumi argued that the loan was granted through normal banking procedures.

“Who can simply walk into a bank and obtain a loan without going through the proper procedures? I followed the required process, step by step. This is the narrative I want to present regarding the Exim Bank case,” he explained.

Prosecutors, however, claim that some documents were forged, certain equipment purchases were questionable, and large portions of the loan money were allegedly diverted into treasury bills and other personal or unrelated activities. The state estimates the total losses at more than GH¢30 million.

Appiah-Kubi speaks after court dismisses withdrawal motion

Wontumi has pleaded not guilty to all charges. His lawyers have also requested a plea bargain, and the Attorney-General’s office has informed the court about the request.