Special Prosecutor Martin Amidu has disclosed some anomalies detected in government’s transaction with the Agyapa Minerals Royalties Limited.
In his Corruption Risk Assessment report which was published on Monday, Mr Amidu stated that there was reasonable suspicion of bid-rigging and corruption activity in the selection process of the deal.
According to the Special Prosecutor, upon analyzing the transaction document, he uncovered that the arrangements lacked transparency.
“The analysis of the risk of corruption, and anti-corruption assessment in the bid selection process led to the assessment that the involvement of Imam Corporate Finance Limited (Pty) of South Africa in the Mandate Agreement as approved by the Public Procurement Authority made the Mandate Agreement an international business or economic transaction needing approval from Parliament under Article 181(5) which was never sought or given.”
“Secondly, the whole of the fees for the bid purportedly won by Imara of South Africa with its decoy. Databank of Ghana is to be paid in United States Dollars to Imams Corporate Finance Limited (Pty) of South Africa. The Mandate Agreement does not say how and when the decoy, Databank of Ghana, was to be paid by Imam for a contract purportedly won and performed jointly,” he explained.
Mr Amidu then added that the Finance Ministry eluded the approval of the Public Procurement Authority stated in the Public Procurement Authority Act 2003 (Act 663) and amended by Act 2016 (Act 914) (Act 663 as amended).
This, he says, concludes that “the process of the selection of the Transaction Advisor(s) disclosed a reasonable suspicion of bid-rigging and corruption activity including the potential for illicit financial flows and money laundering in the arrangement of the fees payable to Databank of Ghana as the decoy.”
Already, President Akufo-Addo has instructed that the Finance Minister returns to Parliament to reconsider the arrangement in the transaction with the Agyapa Mineral Royalties Limited.
The President’s instruction came moments after the Office of the Special Prosecutor communicated its view in the corruption risk assessment conducted into the transaction.
According to Martin Amidu, the process was concluded as far back as October 15 and was forwarded to the Presidency on the same day although a copy was sent to the Finance Ministry on October 16.
Source: Joy Business