BEST POINT SAVINGS AND LOANS LTD vs. UNISECURITIES (GHANA) LTD

The Plaintiff is a savings and loans company registered under the laws of Ghana. The Defendant is a finance house dealing in fund management and other related services as duly authorized under the laws of Ghana. The facts of this case as can be gleaned from the records reveal that the Plaintiff made an investment in the sum of Five Million Ghana cedis (GH¢5,000,000.00) for a period of Three Hundred and Sixty-five days (365) days at the rate of thirty-three percent (33%) per annum. This was evidenced by an investment management term sheet marked into evidence as Exhibit “A1”. Per the terms of the investment, the maturity date was to be February 24, 2017 with the expected maturity value to be in the sum of Six Million, Six Hundred and Fifty Thousand Ghana cedis (GH¢6,650,000.00). Upon the maturity of the investment, it was averred that Defendant was unable to pay the maturity value, for which reason the Plaintiff agreed to re-invest the sums due for a further term of one hundre...