The Nungua Stool, represented by Oboade Notse King Prof. Odaifio Weelentsi III, Nungua Mantse, has signed a Memorandum of Understanding (MoU) with Prestige Group of Companies Limited to manage and harness its vast landed properties in and around Accra.
The agreement, made on January 4, 2021, includes the consent and concurrence of accredited elders of Nungua, including Numo Borketey Laweah Tsuru (Gborbu Wulomo), Nii Alabi Djenge VI, Nungua Mankralo, Nii Akwei Dankwah V Nungua Akuashongtse, and Nii Arku Efritete Nipankwa IV, Nungua Seitse.
Under this MoU, Prestige Group of Companies Limited will act as the Facilitator, leveraging its expertise to manage and protect the Stool’s landed resources.
Responsibilities include warding off encroachers, collecting ground rents, following up on compensations from the Central and Local Governments for compulsory land acquisitions, recovering trespassed properties, and implementing levies and dues set by the Nungua Traditional Council.
The Facilitator will utilize its own resources, including financing, logistics, and personnel, to achieve these goals. Where necessary, they will seek legal assistance to resolve land-related issues in the best interest of the Stool.
The agreement stipulates that 55% of any recoveries or compensations will go to the Stool, 20% to the Facilitator as commission, and 25% for miscellaneous expenses.
Furthermore, an Indemnity and Non-Circumvention Agreement was also established on January 4, 2021, ensuring that the MoU will not be varied to the disadvantage of the Facilitator by any successors in title of the First Party.
Both parties are barred from engaging with third parties in any manner that could adversely affect their mutual interests.