Agyapa Deal: We broke no procurement laws - Ofori-Atta

Finance Minister-designate Ken Ofori-Atta has rejected claims that his outfit breached procurement protocols with regards to the Agyapa deal.

The Special Prosecutor during his corruption risk assessment on the Agyapa Royalties agreement fingered the finance Minister for breaching some procurement laws.

Addressing the Appointments Committee of Parliament during his vetting on Thursday, March 25, he said the transaction was transparent and executed in consonance with the laws of Ghana.

“To then go on to accept, acknowledge a document in which your citizens were not able to give their views on that is not something we should encourage.

We broke no rule and I think the Attorney General should be able to give an assessment on that. I do not believe that we broke any rule by the way which the procurement was”, he indicated.

Mr Ofori-Atta added that Mr Amidu failed to allow him to respond to the claims made against him in the report.

The Minerals Income Investment Fund (MIIF), representing the government of Ghana, set up Agyapa Royalties Limited, a limited liability company, to receive Ghana’s gold royalties.

In a response to President Nana Addo Dankwa Akufo-Addo dated October 30, 2020, after Special Prosecutor Martin Amidu had submitted his work, the Finance Minister insisted that: “There is no justifiable reason for concluding that the current members of the MIIF Board will jeopardize their apparent professional integrity and reputations to engage in corrupt practices motivated by partisan considerations”.

The Special Prosecutor pointed out that the engagement of IMARA Corporate Finance Limited (Pty) (Imara), a South African firm, as Transaction Advisor did not receive parliamentary approval.

Additionally, the Special Prosecutor raised concerns about the partnership of Databank Limited and IMARA and the payment of $15,000 monthly retainer for 12 months during the evaluation and recommendation phase of the deal and $4 million as a success fee.