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Agyapa deal: Special Prosecutor, Martin Amidu completes Corruption Risk Assessment

Special Prosecutor Martin Amidu has completed the Corruption Risk Assessment conducted into government’s transaction with the Agyapa Minerals Royalties Limited.

According to his Office, the process was concluded as far back as October 15 and had forwarded findings of same to the Presidency and Finance Ministry on October 16.

In August this year, the OSP, as part of its mandate, requested from the Finance Ministry documents regarding the special purpose vehicle (SPV) which help the country secure about $1 billion to finance infrastructural projects.

This followed criticisms from Civil Society Organisations about red flags in the transaction.

The Minority in Parliament has described the deal as one shrouded in secrecy adding that its nature had the propensity to breed corruption, a position that government has vehemently rejected.

Dr Steve Manteaw, Chairman of the Civil Society Platform on Oil and Gas demanded that the Special Prosecutor looks into allegations of nepotism in investigations into the Agyapa Royalties deal.

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His comment follows the Finance Ministry’s suspension of the planned launch of the Initial Public Offer (IPO) amid Martin Amidu’s ongoing corruption risk assessment of the transaction.

In a press release Monday, Martin Amidu said, “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 and keep the public informed,” the statement signed by Mr Amidu read.

The agreement which is said to be in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978), was passed without support from the Minority in Parliament.

Meanwhile, an Initial Public Offer (IPO) which was put on hold, remains suspended ahead of the disclosure of the findings of the OSP’s corruption risk analysis meant to identify potential weaknesses which may present opportunities for corruption to occur in the arrangement.

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