Special Prosecutor completes corruption risk assessment of Agyapa deal
The Special Prosecutor, Martin Amidu has announced a conclusion of his office’s corruption risk assessment into the controversial Agyapa Royalties deal.
In a press release issued by his office, Mr. Amidu said he had conveyed the conclusions and observations to the President, Nana Addo Dankwa Akufo-Addo and Finance Minister, Ken Ofori-Atta some two weeks ago in what he says was an action taken out of courtesy before making the announcement public.
After two weeks of this action, the Special Prosecutor said he deemed it important to inform the public about the conclusion of his constitutional mandate.
“The analysis of the risk of corruption and anti-corruption assessment was completed and signed by the Special Prosecutor on 15th October 2020. The Special Prosecutor in a letter with reference number OSP/SCR/20/12/20 dated 16th October 2020 conveyed the conclusions and observations of the anti-corruption assessment to H. E. the President and the Hon. Minister of Finance as a matter of courtesy before informing the public.”
The controversial deal was suspended by the government last month after intense public and CSO complaints of suspected corruption.
Mr. Amidu wrote to the Finance Ministry asking “for them to give us the full payments made to the Ministry of Finance to these transaction advisors since the contract begun in 2018 and also to the international service providers.”
About the deal
The Agyapa deal is a by-product of the Minerals Income Investment Fund Act.
In 2018, Parliament passed the Act which establishes the Fund to manage the equity interests of Ghana in mining companies and receive royalties on behalf of the government.
The purpose of the fund is to manage and invest these royalties and revenue from equities for higher returns for the benefit of the country.
The government then, through the Minerals Income Investment Fund (MIIF), set up Agyapa Royalties Limited to monetize Ghana’s gold royalties.
The company plans to raise between $500 million and $750 million for the government on the Ghana and London Stock Exchanges to invest in developmental projects.
The deal has generated public discourse with some Civil Society Organisations vowing to reject the agreement claiming it is a total rip-off.
Source: Ghana/otecfmghana.com
