Home » Breaking News » CSO welcomes Databank’s withdrawal from Agyapa Royalties deal

CSO welcomes Databank’s withdrawal from Agyapa Royalties deal

Civil Society Orgainzation (CSO) the Citizens Movement Against Corruption, has welcomed Databank’s decision to withdraw its services as a transactional advisor in the controversial Agyapa Royalties deal.

Speaking to the media on the new development, Co-Chair of the Citizens Movement Against Corruption, Edem Senanu, noted Databank’s withdrawal will pave way for the selection of a new local partner for the deal.

“This is a step in the right direction, because it will pave way for the appointment of a new local partner to enable the deal come to fruition,” said Mr Senanu.

The investment brokerage firm, earlier this week announced its withdrawal from the controversial deal citing attacks on its reputation by some political actors due to the Finance Minister’s association with the firm.

Databank has been at the centre of the transaction which has been described by Ghana’s former Special Proseccutor, Martin Amidu, as being suspicious of bid rigging and corruption activity including the potential for illicit financial flows and money laundering in his corruption risk assessment of the deal.

Source:norvanreports

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