Home / News / Gabby breaks silence on Agyapa deal, denies corruption allegations, criticizes CSOs

Gabby breaks silence on Agyapa deal, denies corruption allegations, criticizes CSOs

Gabby Asare Otchere-Darko, a cousin of the president, has responded to his alleged involvement in the controversial Agyapa Deal, which the government abandoned in 2020 due to political opposition and criticism from Civil Society Organizations (CSOs).

In a tweet dated August 15, 2023, Gabby expressed his thoughts on the matter. He criticized the CSOs that had taken the deal to a regional court in Abuja, which ultimately dismissed the case. Despite this outcome, he noted that these CSOs had remained quiet about the court’s ruling since the previous year.

Gabby maintained that the Agyapa Deal was intended to benefit Ghana in the long run, and he believed that political reasons led to its demise. He questioned why the CSOs that had contested the deal internationally were not vocal after the court’s decision.

He stated, “I wonder why Transparency International, Ghana Integrity Initiative and the CSOs who went to an international court over Agyapa have been quiet since July after their case was dismissed on all fronts.”

Gabby went on to express his gratitude for their actions, asserting that the move was positive for Ghana’s democracy. He encouraged people to read the decision of the ECOWAS court and reiterated his belief that the Agyapa Deal, although controversial, was a legitimate attempt by the government to utilize its gold revenues for the country’s benefit, and it was not tainted by corruption.

The Agyapa Royalties deal was proposed by the Ghanaian government in 2020, aiming to generate funds by offering shares of Agyapa Royalties Limited on the London Stock Exchange. The deal faced criticism from civil society groups and the opposition, who claimed it was a secretive and corrupt arrangement that favored politicians over the nation.

It later emerged that Gabby’s firm had been involved as transaction advisors to the government in the deal. Clarifying the extent of his firm’s involvement, veteran journalist Kweku Baako confirmed that Gabby’s firm had received compensation from the main transaction advisors but debunked claims of exorbitant earnings.

One aspect that had drawn attention in the controversy was the role of Osafo-Maafo’s son and Gabby Otchere-Darko in the Agyapa Deal.

myinfo.com

About Adoa News

Check Also

Only 2% of Accra’s flooding issues have been addressed – Works & Housing Ministry

Ghana ranks highly among African countries that are most exposed to risks from multiple weather-related …

Leave a Reply

Your email address will not be published. Required fields are marked *