• Latest
  • Trending
  • All
Transparency International on Ghana's Agyapa deal

Review and withdraw from the Agyapa deal – Transparency International urges UK

December 22, 2020
Mensah Thompson

Mensah Thompson roasted over his disrespectful comments on Ga traditions

May 16, 2022
Gatsi-Bawumia-Ken-BoG

Stop the usual blame game; deal with the high inflation – Gatsi blasts gov’t

May 15, 2022
deborah yakubu

The gruesome murder of Deborah Yakubu; same as Abdullar Umaru in 1999

May 15, 2022
John Gatsi

Enact revenue collateralization law, deal with policy failure issues in the April 2022 inflation figures

May 15, 2022
Akinwumi Adesina

African Development Bank seeks US support for $1.5 billion emergency food plan for Africa

May 15, 2022
John Gatsi

High inflation to affect okro stew consumption in Ghana – Prof. John Gatsi

May 15, 2022
John Dramani Mahama

Let John Mahama go unopposed  

May 15, 2022

Failure Of Business Enterprises To Fulfill CSR Hindered Teshie Development – Dzasetse

May 11, 2022
Nana Akufo-Addo

NHIS faces imminent collapse; only 41.2% of its levy collected paid to the scheme – NDC

May 10, 2022
Goodluck Jonathan

Goodluck Jonathan: Nigeria’s former president rejects APC nomination

May 10, 2022

Party foot soldiers in cassocks

May 10, 2022

Teshie Dzasetse Celebrates 15 Years Jubilee Anniversary

May 9, 2022
Torgbe Sri III

The 36 States of Anlo that pledge allegiance to the Awɔmefia

May 6, 2022
John Gatsi

Repeal of e-levy will ensure principled based taxation – Prof. Gatsi

May 6, 2022

Sempe Akwashongtse Appeals To Muslim Philanthropists to Support their communities

May 5, 2022

Greater Accra Zongo Celebrates Eidul Fitr in Grand Style

May 5, 2022
John Mahama

A few takes from Mahama’s Presentation – Ghana AT A Crossroad

May 2, 2022

Eid-ul-Fitir: Dr Ayariga Sends Goodwill Message To Fellow Muslims

May 2, 2022

Eid-ul Fitir: Akwashongtse wishes Muslims A Happy Eid Kareem

May 2, 2022
John Mahama

How Mahama fought corruption

May 1, 2022

Implementing E-levy Despite Court Case impunity, Disregard For Rule Of Law – Ablakwa Fumes

May 1, 2022
albert aheto

Elect credible executives who can be good opposition members in 2024 – Aheto to NPP

April 30, 2022
Solar panel

African Oil and Gas Deals: Mergers and Acquisitions Activity on the rise in Africa

April 30, 2022
Yayra Agbeehia

Meet Yayra Agbeehia, the Afadzato South NPP Women Organizer aspirant

April 26, 2022
IGP Akuffo Dampare

Bawku conflict: IGP raises alarm, cites alleged Burkinabés’ involvement

April 26, 2022
  • All News
  • About Us
  • Advertise
  • AMN Research
  • My Story
  • Vovoli TV
Monday, May 16, 2022
  • Login
Awake News
Advertisement
  • News
    • Crime
    • Peace & Security
    • Diaspora
    • Press Release
    • Photos
    • Videos
    • Religion
  • Business
    • Agriculture
    • Finance
    • Energy
    • Telecom
    • Economy
    • Travel
    • Mining
    • Oil & Gas
    • Tourism & Hospitality
    • Real Estate
    • Transport
  • Politics
    • Awake Election Watch
    • NDC News
    • NPP News
    • CPP News
    • Opinion Polls
    • Elections
    • Flagbearers
  • Education
  • Health
  • ShowBiz
    • Celebrities
    • Concert
    • Fashion
    • Music
    • Lifestyle
  • Sports
    • Football
    • African Football
    • European Football
    • Basketball
    • Athletics
    • Boxing
    • Disability Sports
    • Tennis
    • Other Sports
  • Features
    • Opinions
    • Speeches
    • Poem
    • Interviews
    • Inspirations
    • People
    • People & Culture
No Result
View All Result
  • News
    • Crime
    • Peace & Security
    • Diaspora
    • Press Release
    • Photos
    • Videos
    • Religion
  • Business
    • Agriculture
    • Finance
    • Energy
    • Telecom
    • Economy
    • Travel
    • Mining
    • Oil & Gas
    • Tourism & Hospitality
    • Real Estate
    • Transport
  • Politics
    • Awake Election Watch
    • NDC News
    • NPP News
    • CPP News
    • Opinion Polls
    • Elections
    • Flagbearers
  • Education
  • Health
  • ShowBiz
    • Celebrities
    • Concert
    • Fashion
    • Music
    • Lifestyle
  • Sports
    • Football
    • African Football
    • European Football
    • Basketball
    • Athletics
    • Boxing
    • Disability Sports
    • Tennis
    • Other Sports
  • Features
    • Opinions
    • Speeches
    • Poem
    • Interviews
    • Inspirations
    • People
    • People & Culture
No Result
View All Result
Awake News
No Result
View All Result
Home Business

Review and withdraw from the Agyapa deal – Transparency International urges UK

Efo Korsi Senyo | Executive Editor by Efo Korsi Senyo | Executive Editor
December 22, 2020
in Business
A A
0
Transparency International on Ghana's Agyapa deal
60
SHARES
670
VIEWS
ShareShareShareShareShare

An anti-corruption international organization, Transparency International has urged financial institutions in the United Kingdom to review and withdraw from Ghana’s gold royalties company, Agyapa Royalties Limited.

Senyo Global Solutions Senyo Global Solutions Senyo Global Solutions
ADVERTISEMENT

In a statement published on the organization’s website, they have urged the UK Financial Conduct Authority (FCA) to make detailed inquiries into the Government of Ghana’s application to list Agyapa Royalties Limited on the London Stock Exchange, and to reject the listing if corruption concerns are not satisfactorily addressed.”

RelatedNews & Articles

Stop the usual blame game; deal with the high inflation – Gatsi blasts gov’t

Enact revenue collateralization law, deal with policy failure issues in the April 2022 inflation figures

High inflation to affect okro stew consumption in Ghana – Prof. John Gatsi

“The banks and lawyers involved in the deal have also been urged to withdraw their engagement.” – the statement added.

Linda Ofori-Kwafo, Executive Director of Ghana Integrity Initiative, the Ghana chapter of Transparency International said: “There are serious red flags in how this deal was set up. Concerns have been raised by civil society actors around inadequate stakeholder consultation, transparency and the valuation of the deal. Other concerns bother on the way transaction advisors became involved in the process and a lack of public oversight over the company at the heart of the deal. It is crucial for Ghana that the western financial institutions and regulators involved in this deal take these concerns seriously. They must not facilitate schemes that may end up plundering Ghana’s mineral resources in the name of investment.”

The statement said “Agyapa Royalties Limited is a Jersey-based special purpose vehicle that would own almost 76 per cent of the royalties generated from 16 large gold mines in Ghana under a scheme that has caused controversy and political fallout in Ghana. Forty-nine per cent of shares in Agyapa Royalties are to be sold through a listing on the London Stock Exchange.”

Read the full statement:

FINANCIAL INSTITUTIONS IN UK URGED TO REVIEW AND WITHDRAW FROM GHANA GOLD ROYALTIES DEAL

Transparency International has urged the UK Financial Conduct Authority (FCA) to make detailed inquiries into the Government of Ghana’s application to list Agyapa Royalties Limited on the London Stock Exchange, and to reject the listing if corruption concerns are not satisfactorily addressed. The banks and lawyers involved in the deal have also been urged to withdraw their engagement.

Agyapa Royalties Limited is a Jersey-based special purpose vehicle that would own almost 76 per cent of the royalties generated from 16 large gold mines in Ghana under a scheme that has caused controversy and political fallout in Ghana. Forty-nine per cent of shares in Agyapa Royalties are to be sold through a listing on the London Stock Exchange.

Following the controversies over the Agyapa deal, the Special Prosecutor at the time, Martin Amidu raised red flags over the risks of money laundering in the deal and possible bid-rigging in the contracting of advisors. Mr Amidu shared his report publicly in November which gave further impetus to the advocacy for a review of the Agyapa Royalties deal.

In a submission to the FCA – and forwarded to J.P. Morgan, Bank of America Merrill Lynch International and law firm White and Case – Transparency International detailed concerns shared by a coalition of almost 30 Ghanaian and international civil society organisations that the deal smacks of corruption.

Linda Ofori-Kwafo, Executive Director of Ghana Integrity Initiative, the Ghana chapter of Transparency International said: “There are serious red flags in how this deal was set up. Concerns have been raised by civil society actors around inadequate stakeholder consultation, transparency and the valuation of the deal. Other concerns bother on the way transaction advisors became involved in the process and a lack of public oversight over the company at the heart of the deal. It is crucial for Ghana that the western financial institutions and regulators involved in this deal take these concerns seriously. They must not facilitate schemes that may end up plundering Ghana’s mineral resources in the name of investment.”

See also:

  • Ghana Parliament asked to overturn risky Agyapa gold royalties deal (12 November 2020)
  • Ghana: What is going on with the controversial Agyapa gold royalties deal? (26 November 2020)

Transparency International press office

press@transparency.org

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to print (Opens in new window)
Tags: Agyapa dealAgyapa scandalHeadlines
Do you have any article or news or story leads? Let Awake News energize that story for you. Send them to editor@awakenewsroom.com or WhatsApp: +233249155003 ========================
Efo Korsi Senyo | Executive Editor

Efo Korsi Senyo | Executive Editor

Efo Korsi Senyo has over 8years of experience working as an investigative journalist. He is the Executive Editor of Awake Newspaper, Awake Africa, and Head of Awake Investigations. Connect with him via senyo@amnafrica.com or WhatsApp: +233249155003

Related Posts

Davis Agbedam
News

8yr-old Ghanaian hole-in-heart patient stranded in India; needs urgent help

by Efo Korsi Senyo | Executive Editor
October 24, 2021
Amos Blessing Amorse - Alexander Adusei
Politics

Kill yourself before NDC returns to power – Amos tells Keta Port CEO

by Efo Korsi Senyo | Executive Editor
August 25, 2021
Nana Addo Dankwa Akufo-Addo, President of Ghana
Health

Agenda 111: Set up standalone Gov’t Naturopathic hospitals in the country – Nyarkotey and Lawrencia tasks Nana

by Nana Araba Bedu-Addo | News Editor
August 24, 2021
Akufo-Addo and Bawumia
Politics

CDG takes on Bawumia, gov’t over ‘borrowing for consumption and corruption’

by Adua-Saah Abugah | Reporter
August 17, 2021
Kwasi Amoako-Attah
News

I’ll fix your road in record time – Roads Minister to Upper West Region

by Umar Sheriff Musah / Senior Reporter
August 16, 2021
  • Trending
  • Comments
  • Latest
Kwaku Agyeman Manu

Honestly, Mahama made arrangements for ambulances services not NPP – Health Minister

November 25, 2020
Nana Addo Dankwa Akufo-Addo

Agyapadie Secret Book: Akufo-Addo, Akyem NPP’s grand scheme to capture Ghana exposed

November 30, 2020
Gatsi-Bawumia-Ken-BoG

Stop the usual blame game; deal with the high inflation – Gatsi blasts gov’t

May 15, 2022
Mensah Thompson

Mensah Thompson roasted over his disrespectful comments on Ga traditions

May 16, 2022
Gatsi-Bawumia-Ken-BoG

Stop the usual blame game; deal with the high inflation – Gatsi blasts gov’t

May 15, 2022
deborah yakubu

The gruesome murder of Deborah Yakubu; same as Abdullar Umaru in 1999

May 15, 2022

RSS Properties for Sale

  • Registered 5acres of land for sale at Kasoa off Kasoa-Bawjiase Road
  • River front farm land for lease at Sogakofe, Volta Region
  • River side land for sale at Sogakofe, Tefle and Sopoe
  • 65 acres of land for sale at Tsopoli near new Airport site
  • 20 acres of service plots of land for sale at Shai Hills

Vovoli TV

ADVERTS

Awake News

News Production & Advertising

Awake News is published by AM Network which seeks to give readers balanced and credible news from across Ghana and the world. We focus on giving our reader the reason to return to our portal for any news and why advertiser must place their ads on our portal...read more

Services

  • My Story
  • Advertise With Us
  • AMN Research
  • Contact Us
  • Vovoli TV
  • Awake Investigates

Partners

  • SenyoMart
  • GoPropertyLink.com
  • Senyo Global Solutions
  • FNN24.com
  • LoudSilenceRadio.com
  • GHface.com
  • myxyzonline.com
  • SenyoHost.com

 


Do you have any article for publication? Are you an eyewitness? Submit your stories and articles now via awakenewsonline@gmail.com or WhatsApp: +233249155003

  • All News
  • About Us
  • Advertise
  • AMN Research
  • My Story
  • Vovoli TV

Copyright © 2012-2020 | Awake News

No Result
View All Result
  • Vovoli TV
  • All Latest News
  • News
  • Politics
  • Education
  • Business
  • Health
  • Sports
  • Opinions
  • Entertainment
  • Press Release
  • My Story

Copyright © 2012-2020 | Awake News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In