Real estate developer SuCasa Properties has firmly dismissed rumours of bankruptcy, stating that the company remains solvent and committed to delivering quality, affordable homes despite challenges in the industry.
Speaking at a press conference in Accra, SuCasa’s Public Relations Officer, Daniel Kofi Awuku-Asare, addressed recent allegations of fraud, money laundering, and financial mismanagement levelled against the company and its directors.
He described the claims as false, defamatory, and part of a smear campaign aimed at tarnishing the company’s reputation.
“SuCasa is not bankrupt. We are solvent, compliant with the law, and actively delivering homes to Ghanaians,” – Mr. Awuku-Asare said.
He noted that although the company had faced investigations from law enforcement agencies including EOCO and the CID, no wrongdoing had been found.
A case brought before the High Court against the CEO was dismissed for lack of evidence of fraud.
On project delays, the company explained that factors such as customer defaults and broader economic challenges had impacted timelines. However, SuCasa highlighted progress made:
• Phase 1 of its O’Grantson Communities is fully occupied.
• Phase 2 is 50% occupied, with some residents moved in despite outstanding payments.
• Phase 3 is on track for completion by December 2025.
Regarding customer refunds, SuCasa clarified that, like most real estate firms, funds are invested directly into construction, and cancelled properties must be resold before refunds can be issued. A recent court case supported this standard.
Mr. Awuku-Asare also addressed defamation from certain individuals and stated that SuCasa is considering legal action to protect its brand. He singled out comments by a Mr. Kalmoni, calling them “reckless and defamatory.”
Despite recent challenges, SuCasa reaffirmed its partnership with government, its recognition under the Diaspora Engagement Policy, and its leadership role in affordable housing.
“SuCasa is building on trust,” the spokesperson concluded. “And that trust will never be broken.”
By Ebenezer Madugu
