Take Agyapa Royalty deal back to Parliament – Akufo-Addo directs Finance Minister

President Nana Akufo-Addo has directed Finance Minister Ken Ofori-Atta to take the Agyapa Mineral Royalties Limited contract back to parliament.

This follows the Special Prosecutor’s completion of the corruption risk assessment exercise concerning the controversial deal.

Civil society groups have criticised the deal in its current form, which they consider to be a ripoff.

Mr Amidu announced via a statement on Monday that he had completed the corruption risk assessment. “The analysis of the risk of corruption and anti-corruption assessment was completed and signed by the Special Prosecutor on 15th October 2020”, he said.

“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 statement added: “Two weeks is more than too long for this office to continue withholding the announcement of the completion of its 64-page report to the public.

“It is important that this office has the freedom to discharge its anti-corruption mandate and keep the public informed.

“I have, therefore, decided to bring the facts of the conclusion of the anti-corruption assessment of the Agyapa Royalties Transactions by this office to the attention of the public and to avoid the continued speculations on this matter,” Mr Amidu said.

A few weeks ago, Mr Amidu accused the Ministry of Finance, specifically Deputy Minister Charles Adu Boahen, of delaying the corruption risk assessment.

Mr Amidu said at the time that: “We wanted them to give us all the payments made through approved banking channels to show us how much has gone into the transaction so that once and for all, we can make an assessment based upon the quantum of money being paid.”

However, Mr Amidu said Mr Adu Boahen had been delaying the process.

“That’s why we are telling him [Adu Boahen]: ‘Give us the evidence for the quantum you have paid [that] is not substantial’. I haven’t had a reply and that is the only thing holding the assessment report”, Mr Amidu said.

“The holding up of the assessment report is not from this office because we intended it to be out by the end of September”, he revealed.

“The stonewalling” and “the delays”, the anti-graft campaigner noted, “have come from the Ministry of Finance, particularly the Deputy Minister of Finance, Adu Boahen”.

“He’s the one who has held us up and, unfortunately, we are in October, which is not what we intended”, he told Accra-based Citi FM.

Prior to that, the government of Ghana froze the launch of the Initial Public Offering (IPO) by Agyapa Royalties pending the completion of the corruption risk assessment.

A letter signed by Mr Adu Boahen, and addressed to the OSP, said: “The Ministry does not intend to proceed with the IPO ahead of the results of the corruption risk assessment by your Office”.

The ministry said: “The international investor community has been closely monitoring the outcome of the current state of the transaction, and, it would, therefore, be detrimental to proceed without receiving the necessary approvals and green light from your Office,” it said.

“Additionally, we will be required to fully disclose in the prospectus to the transaction, the outcome of any investigation by your office prior to approval by the respective regulators of stock exchanges in Ghana and the United Kingdom”, the letter to the OSP said.

The letter said the ministry was ever ready to “provide any further information or clarification” to the OSP on the deal.