Halt IPO on Agyapa deal - Martin Amidu to Finance Minister

According to him, this directive is to enable his office conclude investigations on whether the deal has a corruption risk.

In a letter addressed to the Minister of Finance, Ken Ofori-Atta, he said he would have wished to conclude this assessment quick, however, release of documents on the deal by the Ministry has not been done.

“This Office would have wished to complete its corruption risk assessment on the Agyapa Royalties Transaction soonest but for the non-submission of the information and documents pending to be submitted by your Ministry."

"The information and documents you supplied concerned mainly the processes for and the appointment of the Transaction Advisors which goes to the root of any corruption risk assessment,” Mr Amidu said in a letter to the Finance Ministry.

The letter added: “Information and documents relating to the identification and recommendation by the transaction advisors to your Ministry for appointment a list of other services providers and or underwriters that may be required to complete the transaction as provided in clause 2.2.1 of the mandate agreement amongst others, that are critical to any through corruption risk assessment are also outstanding."

"The legal opinions particularly of the principal legal advisor to the government under the Constitution are relevant to ensure compliance with her recommendations as part of any corruption risk assessment.”

Ghana's Finance Minister, Ken Ofori-Atta. Pulse Ghana

“In the circumstances, this Office wishes to urge you to abide by the results of the corruption risk assessment it is undertaking on the transaction before moving to the launching of the IPO transaction. This Office makes this suggestion on the grounds of prudence on your part and to also not give the impression that the mandate of this Office on prevention of corruption is of no consequence to the transaction,” it noted.

Civil Society Organisations (CSOs) have calling on government to provide them as well as the public, with the data backing the Agyapa Royalties agreement.

According to them, the data seen is from the Chamber of Mines which they believe is what the Ministry of Finance has made available which they hold, are conflicting numbers as their calculations of revenue generated from royalty in 2019 is different from what government has been circulating.