In the ongoing saga of the Agyapa Royalties scandal, new revelations have come to light, shedding further clarity on the intricate web of individuals and entities involved in the botched attempt to collateralize Ghana’s natural minerals. Documents obtained from the British tax haven of Jersey have uncovered the role of Felicia Ashley, among other prominent figures, in the establishment and subsequent rebranding of Agyapa Royalties Limited.
Felicia Ashley's involvement in the transition from Asaase Royalties to Agyapa Royalties, particularly in light of an oversight by Gabby Asare-Otchere Darko, has brought renewed attention to the scandal that has resulted in a staggering loss of US$14 million to Ghanaian taxpayers. The recent appearance of Edward Nana Yaw Koranteng, the boss of the Mineral Income Investment Fund (MIIF), before the Public Accounts Committee (PAC) of Parliament has further highlighted the potential financial loss to Ghana.
The documents obtained from Jersey’s Company Registry have revealed the involvement of both Ghanaian and foreign individuals, including Yaw Baah, Felicia Ashley, and George Mireku Duker, as well as foreign figures such as Tom Williamson, Donna Laverty, and James Bore. Notably, Gabby Asare Otchere-Darko’s law firm, Africa Legal Associates, played a significant role in the deal, contributing to the selection of the name Asaase Royalties, later changed to Agyapa Royalties.
Of particular interest is Felicia Ashley’s dual role as an official of the Ministry of Finance and her previous position as Vice President and Head of Human Capital and Administration at Databank Group, owned by then Finance Minister Ken Ofori-Atta. This connection adds another layer of complexity to the situation, as Databank was directly involved in the Agyapa deal and indirectly through Imara Holding Limited of South Africa.
The involvement of various legal and financial advisory firms, both local and international, has raised concerns about potential conflicts of interest and whether the government received value for money in the Agyapa deal. The transaction has been viewed by legal analysts as a financial loss to the state, prompting discussions about potential criminal investigations and prosecutions.
As the controversies surrounding Agyapa Royalties continue to unfold, it is imperative for relevant authorities to conduct a thorough investigation into the matter and hold those responsible for any wrongdoing to account. The disclosure of detailed information and supporting evidence from MIIF regarding the reported government expenditure on the Agyapa Royalties deal is a step in the right direction.
The public deserves transparency and accountability in matters that impact national finances and resources. It is crucial for all stakeholders involved to cooperate fully with any inquiries or investigations to ensure that justice is served and that similar incidents are prevented in the future.
The Herald’s continued scrutiny of the Agyapa Royalties scandal serves as a reminder of the importance of investigative journalism in uncovering issues of public interest and holding those in positions of power accountable. As more details emerge, it is essential for all stakeholders to prioritize the best interests of Ghana and its citizens.
-source theheraldghana | curated by Aisha Yakubu | Ghana Crimes
