Ofori-Atta's Databank made US$9.2m in Eurobonds, domestic bonds in 3 years - Manasseh's new book reveals

Read Article

Comments (21)

This article is closed for comments.

Read Comments Comments (21)

Po 2 years ago

Enko yie koraa

Enko yie koraa
Unpredictable Oye Onye Kwasi Atta 2 years ago

I don't blame Akufo Addo and his family but my own Asantes who the NPP's majority in parliament that were idiotically used for all their evil moves. They have all along been foolishly fooling themselves and now regretting dis ...
read full comment

I don't blame Akufo Addo and his family but my own Asantes who the NPP's majority in parliament that were idiotically used for all their evil moves. They have all along been foolishly fooling themselves and now regretting disappointingly. They should come out boldly to condemn what I said about these criminally minded Akyempanzees for the past 8 years as the stupid fruits are matured for harvesting.

I don't particularly hate the Kyebi mafias but foresaw their diabolic moves 12 years ago when we were in opposition. Some of us were vocal but they threw caution to the dogs. Look at the deterioration of infrastructure in our region which is the NPP votes world bank. Kumasi has lost its garden city title to become garbage city. Kufuor, Nyaho Nyaho Tamakloe, Kofi Koomson, Paul Afoko, Sammy Crabbe and many others warned us but no one listened
SECURITY FENCING AND CCTV 2 years ago

We help secure your perimeter with modern ELECTRIC FENCE SYSTEMS that supports alarm system and backup battery system. We sell and install ELECTRIC FENCE SYSTEMS & CCTV CAMERAS. Call/WhatsApp: 0501796870 for more info. DFGRT

We help secure your perimeter with modern ELECTRIC FENCE SYSTEMS that supports alarm system and backup battery system. We sell and install ELECTRIC FENCE SYSTEMS & CCTV CAMERAS. Call/WhatsApp: 0501796870 for more info. DFGRT
KofSam 2 years ago

It is only in Ghana where a cousin of the president who owns his own bank will be appointed a minister of finance without any conflict of interest.

It is only in Ghana where a cousin of the president who owns his own bank will be appointed a minister of finance without any conflict of interest.
Tuffour 2 years ago

Absolutely spot on. There is conflict of interest here

Absolutely spot on. There is conflict of interest here
Tuffour 2 years ago

This is a classic example of state capture a conflict of interest.
These are hardened bandits who came to loot this poor country to bleed.

This is a classic example of state capture a conflict of interest.
These are hardened bandits who came to loot this poor country to bleed.
Awam 2 years ago

Miserable, even if Ghana didn't have a central bank it wasn't necessary to use a bank owned by an individual who is very well connected to the government and the president at the same time. The government used a personal busi ...
read full comment

Miserable, even if Ghana didn't have a central bank it wasn't necessary to use a bank owned by an individual who is very well connected to the government and the president at the same time. The government used a personal business of a crony to broker/facilitate transactions on behalf of the country.

Why was the central bank bypassed. I guess it was for a personal interest. These politicians on either side put their personal interests ahead of anything else as we've seen time and time again.

Captain Smart was the one who first reported this to my knowledge.
Sir 2 years ago

How will we explain to the next generation that we watched this act happen?

How will we explain to the next generation that we watched this act happen?
Sir 2 years ago

Awam it is serious. Goes beyond conflict of interest. Not only his bank but insurance company, ignoring the national bank and SIC. He is the Finance Minister and relative of our president. We failed Ghana

Awam it is serious. Goes beyond conflict of interest. Not only his bank but insurance company, ignoring the national bank and SIC. He is the Finance Minister and relative of our president. We failed Ghana
Kwetteh 2 years ago

He says he is a devout christian.

He says he is a devout christian.

Tilapia 2 years ago

Christian My butt! Wolves come in sheeps clothing.

Christian My butt! Wolves come in sheeps clothing.
Papa 2 years ago

The figure disclosed to you is oily a tip of the ice birch

The figure disclosed to you is oily a tip of the ice birch
snd 2 years ago

Yet that stupid fixing the country movement hasn't seen this and other numerous corruption scandals, but chasing a fictitious Airbus candal. If not tribal bigotry what else?

Yet that stupid fixing the country movement hasn't seen this and other numerous corruption scandals, but chasing a fictitious Airbus candal. If not tribal bigotry what else?
Wasteman 2 years ago

MAHAMA IS NOT A SHARP GUY, LIKE IF HE WINS POWER HE SHOULD TEACH THIS OFORI ATTA A BITTER LESSON…COLLAPSE DATABANK AND ENTERPRISE IN 3 YEARS

MAHAMA IS NOT A SHARP GUY, LIKE IF HE WINS POWER HE SHOULD TEACH THIS OFORI ATTA A BITTER LESSON…COLLAPSE DATABANK AND ENTERPRISE IN 3 YEARS
Northern Boy 2 years ago

Waaaaw!!

Waaaaw!!
Uncle Pee 2 years ago

Assuming Manasseh's allegation is true, was Databank's profit illegal? This attitude of some Ghanaians that if you make money you're corrupt must stop. What kind of enviness and mischief are we adopting in this country? Datab ...
read full comment

Assuming Manasseh's allegation is true, was Databank's profit illegal? This attitude of some Ghanaians that if you make money you're corrupt must stop. What kind of enviness and mischief are we adopting in this country? Databank has served governments over the years, irrespective of the political party in power, because of their specialization in the bond market.
Ghartey 2 years ago

Mumu. Learn to keep quiet in these matters. You're too stupid to comment.

Mumu. Learn to keep quiet in these matters. You're too stupid to comment.
The money is in the pockets of Data bank investors 2 years ago

What we fail to understand is that listed businesses don't own the money they make. An investment company like Data Bank which is listed on the Ghana Stock exchange does not make money for itself. The aggregated annual profit ...
read full comment

What we fail to understand is that listed businesses don't own the money they make. An investment company like Data Bank which is listed on the Ghana Stock exchange does not make money for itself. The aggregated annual profit is shared as dividends to all investors. That is why as many people who invest in Epack, Mfund, etc have been benefiting for the past 30yrs. Again, the finance minister as a person is not part of the day to day running if Databank. There are workers who are paid to ensure they win such businesses. They are paid from the portfolio earnings.

What is surprising is that, Databank is singled out out of the 3 or 4 companies and not much is said about them. Yes a company must be founded by someone. Yes a company must chase opportunities to make money. Now is it a sin for a local business to profit from a government business they do and do it best at very low rates?

For all these bonds, several investment advisory companies both local and international put in their bids to be selected. Aside from competence, I'm sure a good decision point is their fees. Are we saying that Databank got these jobs only on allegiance to Ken and not on merit? Or they were selected because their fees were the highest and still given the job?

It would have been more painful to give this job to a foreign company who pays dividends to non-Ghanaians. It would have been much more painful if Ken was awarding the job to himself as a single businessman running Databank who is not accountable to any shareholder.

Let us use discernment to read such articles. Any properly thinking person will do a thorough analysis of the requirements that made them attractive to win and partake as advisors to the Euro bonds.

It is very regrettable that we may be persecuting the hand that feed us by attacking the investment company that has been paying their clients like the many ghanaians investing in their various portfolios like EPACK, Edufund, MFund, etc.

Let us stop politicizing everything and ask ourselves a single question. If I(you reading this) have resigned from a company, and still have shares in it, and your old company places a bid to advise the government you are now serving in, would you stop them even if they have the best of offer to the country?

Think along those lines.

Gracias.
Mike 2 years ago

Who is the largest share holder or owner lol. Ei Ghanaians must be smart oo

Who is the largest share holder or owner lol. Ei Ghanaians must be smart oo
K 2 years ago

The OSP says relatives doing business is not illegal unless you have strict proof of corruption

The OSP says relatives doing business is not illegal unless you have strict proof of corruption

Aya 2 years ago

My only hope is how this crook Ofori Atta and Cecelia Dapaa going to jail to serve as a deterrent to others not forgetting that Pius Hadize guy .. Mahama should show us that he’s got balls to deal with them otherwise Ghanai ...
read full comment

My only hope is how this crook Ofori Atta and Cecelia Dapaa going to jail to serve as a deterrent to others not forgetting that Pius Hadize guy .. Mahama should show us that he’s got balls to deal with them otherwise Ghanaians will not forgive him should he win power .

21 Comments

Welcome,

SIGN IN

Welcome,

RESET PASSWORD

Hello,

Terms and conditions

REGISTER

Ofori-Atta's Databank made US$9.2m in Eurobonds, domestic bonds in 3 years - Manasseh's new book reveals

Read Comments .st0{display:none;fill:#14BDD3;} .st1{display:none;} .st2{display:inline;fill:#FC0F0F;} .st3{display:inline;fill:#FFFFFF;} .st4{display:inline;fill:none;stroke:#000000;stroke-width:6;stroke-miterlimit:10;} Comments (21)

Read Comments Comments (21)