In a viral documentary by world renowned media organization, CNN on its "Marketplace Africa" TV program, they profiled the CEO of Reroy Group, Mrs. Kate Quartey Papafio describing her as "The Queen of cables in Ghana."
In the video, she explains how she evolved from importing electric cables to becoming a leading manufacturer in her country, as found here at The Queen of cables in Ghana - CNN Video (VIDEO), where she shared how the multi-million business of manufacturing started from a personal need, their expansion, importation of machinery, research, expansion of scope of their business, their growth into metals, renewable energy provision, etc, and the exporting of their products to Europe, a hallmark of quality.
Her Bio on her social media page reads beautifully that:
"Mrs. Kate Quartey–Papafio is a firm, proactive and resourceful leader who sees risks and challenges as opportunities for growth and development," it stated.
Well, this and many other innovations, that has characterized her business and impact on the entrepreneurial journey, may well have ended fast, maybe last year or this year, as she was on the verge of a total collapse, as she stood trial for her involvement in the collapse of Capital Bank something, that was going to earn her potential jail terms, for the alleged stealing charges.
Just imagine this all over again. She has built an awesome industry leader and have even expanded into energy production through its renewable energy investments and then suddenly, there she is at the Nsawam Prisons, and maybe, she is going to stay there for say just a decade, for her role in stealing state funds, how awkward could that have been?
Well, that was the seeming sure tragedy she was on, until, the combined prowess of NDC's Lawyer Hon. Dr Dominic Ayine and Fast Rising Lawyer Edudzi Kudzo Tameklo and NPP's Lawyer Hon. KT Hammond, took their wigs, black legal suits and of course, every understanding of relevant laws, they could quote to save their client from going this trajectory of criminal actions against her by the state.
When the victory finally came through, this video went viral, found here at Facebook (VIDEO), as the youngest Lawyer amongst the three lawyers (as the other two (2) are obviously his senior at the Ghana Bar), Lawyer Tamakloe had shared on his Facebook page that:
"The MD for Reroy Cable, Kate Quartey Papafio was today acquitted and discharged by the High court. We thank God for this. Led by my seniors, Hon Dr Dominic Ayine and Hon KT Hammond"
The details of this case is however that, the Accra High Court has acquitted and discharged Kate Quartey-Papafio, the Managing Director of Reroy Cables Limited, who was on trial with three others over the collapse of the defunct Capital Bank.
That was after the court, presided over by Justice Eric Kyei-Baffour, a Justice of the Court of Appeal, sitting as a High Court judge upheld a submission of no case by her lawyers. The court, however, ruled that the prosecution was able to establish a prima facie case against the other three accused persons - William Ato Essien, Founder of the defunct bank, Fitzgerald Odonkor, the Managing Director of the bank and Tettey Nettey, the Managing Director of MC Management Services, a company said to be owned by Essien.
Consequently, Justice Kyei Baffour ordered the three other accused persons to open their defence. Prosecutors had accused Ms Quartey-Papafio, Mr Essien, Mr Odonkor and Mr Nettey, of conniving and stealing GH₵620million of liquidity support given to the Capital Bank by the Bank of Ghana.
They pleaded not guilty to all the charges of stealing, abetment to stealing, conspiracy to steal and money laundering. In the ruling, Justice Kyei Baffour held that the prosecution failed to establish any prima facie case against Ms Quartey, to warrant her to open her defence.
He ruled that, there was no evidence that showed that the businesswoman intended or acted in any way, to steal money from Capital Bank, as according to the judge, the businesswoman only acted as a trustee for another person who wanted to purchase shares from the bank, but had no knowledge that the said money was part of the liquidity support.
Also, the court held that, the said money (GH₵70million) was still in the custody of the Consolidated Bank and had not been appropriated or stolen by the businesswoman. “A prima facie case has not been established against her. Rather she acted childish in the deal. The law does not punish the fool but the one with evil intention,” the court ruled.
Many will recall that, Capital Bank was one of the first banks to be collapsed in 2017 after a massive clean-up of financial institutions by the Bank of Ghana (BoG), as on August 14, 2017, its licence and that of UT Bank were revoked by the BoG, after it had declared them insolvent.
The BoG allowed the state-owned bank, GCB Bank, to acquire the two banks in order to protect depositors’ funds and also enable them to stay afloat. The hurricane that swept through the banking sector, due to the collapse of the two banks further heightened in August 2018, when the central bank collapsed five other indigenous banks and merged them into one entity, known as Consolidated Bank, Ghana.
Fast forward, let us get to know her more. Mrs. Kate Quartey Papafio founded Reroy Cables Ltd in 1992 to distribute high quality electrical cables and as at today, Reroy Cables represents the repositioning of one of the iconic brand names in Ghana’s cable manufacturing and aluminium application industry which goes beyond its basic power cables business.
As a major player in the production and supply of power cables, conductors, provision of electrical power distribution system and strategic contract services to the electricity sector, its business is also linked to the electricity distribution and transmission business. Reroy has expanded its manufacturing capabilities in Ghana, to optimize its global business portfolio, and exploring further other geographic deployments and business ventures across Sub region.
Over the last two decades, Mrs. Kate Quartey Papafio has led Reroy to build a brand, which has now become synonymous with our core values of excellence, integrity and continuous improvement. In view of the increasing complexity and dynamic nature of current challenges facing many of the world’s economies, have led Reroy to focus part of her investments on the development of specialized human resource and technological base.
Today, Reroy can confidently boast of a client focused approach underpinned by responsiveness and keen attention to detail, as the hallmark of her service delivery. Through her positive influence and initiative, over the past years, Reroy has experienced substantial changes in the outlook of the company, into a Group of specialist engineering entities; Embracing diversity and gender balance, Integration of product and service offering to become a “one-stop-shop” for Power solution and Expanding her international footprint with operations across Africa.
It is the long term ambition of Reroy, to become a global leader in providing sustainable solutions in the power sector including the design, manufacture and delivery of power infrastructure and investment support/partnership in general economic infrastructure.
Presently, the operation of the Reroy Group is in four specialists engineering entities; Reroy Cables Ltd (Manufacture of Power Cables and Conductors), Reroy Power Ltd (Manufacture, Supply and Installation of Power, Distribution Equipment; Transformers and Substations), Reroy Metals Ltd (Manufacture of Aluminium Wire Rod), Reroy Energy Ltd (Construction and Operation of CCGT Power and Solar Plants).
Through the collaboration of its subsidiaries, Reroy is well placed to provide exceptional value to its clients, through integration of its operations and consolidation of its supply chain. Reroy Group is also well placed to provide targeted solutions in a broad range of power needs.
She was on 18th October 2014 crowned the Chartered Institute of Marketing Ghana (CIMG), Marketing woman of the year 2013 and on 12th December, adjudged winner in the Entrepreneurship category at the maiden edition of the Osagyefo Kwame Nkrumah African Genius Award. Her company, Reroy cables limited, was adjudged the Manufacturing Company of the year 2014 at the National Marketing awards organized by the Chartered Institute of Marketing Ghana.
Other achievements includes Electrical Product of the Year 2013; Ghana-Made Products awards, Winner 2013 Ernst & Young West Africa Entrepreneur of the Year Award ,Africa’s most influential Women in business & government Awards 2013; CEO Communications Limited, South Africa and Silver Award; 3rd Ghana-Africa Business Awards 2008.
As part of the Corporate Social Responsibility of Reroy Group, they strive to harness the full potential of the youth, through capacity building and development of the educational infrastructure in the communities within which they operate.
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