Minority Leader and Member of Parliament for Effutu, Alexander Afenyo-Markin, has assured the public that he has fully settled all past business debts owed to financial institutions, dismissing resurfaced reports that suggest otherwise.
Addressing recent media discussions about his financial history, the MP stated that publications alleging he still owes banks are outdated and no longer reflect the current reality.
In an interview with GHOne TV, he acknowledged that his businesses—Square Logistics and Excel Courier—faced financial setbacks in the past but successfully met all repayment obligations.
“In the life of every business, you go through low moments,” he said.
“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.”
Loans with banks settled
Mr. Afenyo-Markin disclosed that while his businesses encountered financial difficulties between 2014 and 2015, all debts were cleared long ago.
“Access Bank was paid long ago. My company does not owe them. Both Square Logistics and Excel Courier fully settled their obligations,” he stated.
He further 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.
A legacy of business and financial integrity
Providing further context, the Minority Leader highlighted his extensive experience in business, particularly in the logistics, transport, and courier industries.
He mentioned key partnerships with major clients such as Ghana Bauxite and Ghana Manganese and described his role in introducing Mahmoud trucks and trailers into Ghana from Dubai and Turkey.
Concluding his remarks, Mr. Afenyo-Markin reaffirmed his commitment to financial responsibility and transparency.
“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 emphasized.
