The High Court of Justice, Commercial Division 2, in Accra has set aside a US$33.3 million arbitral award against Justmoh Construction Limited, ruling that Ashanti Port Services Limited (APSL) lacked the capacity to initiate arbitration.
Presiding Judge John-Mark Nuku Alifo held that APSL’s board was not properly constituted under its Shareholders’ Agreement and that the company had no cause of action when it filed for arbitration in December 2023.
The Court also found that Justmoh’s participation in the proceedings did not amount to waiver of jurisdictional objections.
The dispute arose from the Boankra Inland Logistics Terminal project, where APSL engaged Justmoh as EPC contractor. The Ghana Ports and Harbours Authority (GPHA) had paid US$33.3 million directly to Justmoh as part of its share subscription in APSL.
The Court ruled that the funds could not be treated as a loan recoverable by APSL and noted that the principle of unjust enrichment weighed against the arbitral award.
In December 2025, an arbitral tribunal had ordered Justmoh to refund the US$33.3 million with interest. The High Court’s ruling overturns that award in its entirety.
The Boankra Inland Port, located in the Ashanti Region, was conceived as a flagship dry port to ease congestion at Tema Harbour and bring cargo handling services closer to central and northern Ghana.
APSL was incorporated as the concessionaire, with the Ghana Shippers’ Authority, GPHA, and Afum Quality Limited as shareholders.
In 2022, APSL engaged Justmoh Construction for Phase 1A of the project. GPHA’s US$33.3 million share subscription was paid directly to Justmoh to mobilize work.
However, APSL failed to achieve financial close, and by August 2023, the GSA terminated the concession. The Ministry of Transport subsequently directed GPHA to assume management of the stalled project.
Despite nearly two decades of planning, the Boankra project has repeatedly missed completion deadlines.
Consultants recently reported that overall progress stood at just six percent instead of the projected 20 percent for April 2026, citing financial constraints.
The terminal area is reportedly 98 percent complete, while the freight station, mechanical workshop and bonded warehouse are at advanced stages. Other components, including the interchange, have yet to begin, and the fire station is only 40 percent complete.
Dr J.B. Koranteng Yorke of Vision Consults explained: “There are some components that we haven’t started because of funding. The interchange is one of them. The fire station is about 40% completed.” Contractors remain unable to work at full capacity, further extending the timeline.
The High Court’s decision relieves Justmoh of repayment obligations but leaves the Boankra Inland Port project at a crossroads.
With millions already invested and progress slow, stakeholders face renewed pressure to secure financing, strengthen governance and accelerate completion of a project long touted as a game-changer for Ghana’s trade and logistics.
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