How Dr Afriye acquired GhanaWeb
On 1-11-2022 Protec Innovations Ltd made a formal bid to the majority shareholder (Bellaart Investments BV) to buy 100% of the shares AfricaWeb Holding BV at a price of 1 million euro.
On 4-11-2022 Bellaart Investments BV accepted the offer and subsequently informed the two other shareholders about the offer. According to the company regulations B.I. give the two shareholders the option to make a competitive offer before 4-12-2022.
Such a competitive offer was not presented. B.I. reported this to Protec Innovations Ltd who then engaged a Dutch public notary to effect the transaction.
Protec Innovations Ltd was earlier set up as a front-company for Dr. Afriye because a Dutch public notary would unlikely have accepted a PEP (Politically Exposed Person) buying a Dutch media company. The Netherlands has draconic laws against money-laundering and anti-corruption.
The owner of Protec Innovations Ltd ia his wife, who used her maiden name Maame Yaa Antwi for the registration.
Maame Yaa Antwi was able to explain the source of wealth to transfer 1 million euro because she owns St Johns's Hospital in Accra.
On 22-2-2022 the notary officially transferred the shares AfricaWeb Holding BV to Protec Innovations Ltd.
On this date Protec Innovations Ltd became the official owner of ghanaweb.com.