Finance Minister-designate, Ken Ofori Atta, has intimated that, for the former Special Prosecutor, Martin Amidu to have brought out the Agyapa report without discussing with him for his input, is a disservice to the nation’s democracy.
Speaking during his vetting today, March 25, 2021, he was of the view that, there is a bit of cynicism with regards to the Agyapa transaction.
“I think clearly there is quite a bit of cynicism with the transaction and for me, for the House, for such a report to be put out without us, myself as the Minister of Finance having a chance to discuss it, I think is a disservice to our democracy.
“And I think that it’s a fundamental right that we all as a people should be careful with such things.”Ken Ofori-Atta
He also disclosed that the issues regarding the Agyapa deal as well as that in the report will be tackled when it is resubmitted before Parliament in due time.
“And so, the speculated issues and the risk associated with the transaction in that regard; is what we are re-submitting to Parliament and we will be able to work those things out.”Ken Ofori-Atta
President On Agyapa
Earlier this month, the President, Nana Addo Dankwa Akufo-Addo hinted on the resubmission of the Agyapa deal to Parliament.
Reading the State of the Nation Address (SONA), he revealed that, the transaction will be taken back to Parliament for further deliberation and reengagement by the members of the House.
Investment Comes With Risk
Touching on the financial investment involved with regards to the Agyapa deal transaction; he posited that every of such transactions under this deal comes with risk involved.
“…we should also note beyond that. And the reason why I brought the Act up is that, the act was well debated and put into motion. I think risks are part of every investment you make. Parliament gives me the mandate to raise $2 to $3 billion with all sorts of risk. Under this we have brought the best pricing under the country or that comparable countries could enjoy.”Ken Ofori-Atta
Mr. Ofori- Atta further indicated he did not “know why…the type of performance by the Finance Ministry did not reflect in the report which was put out by the Special Prosecutor.”
He then maintained that the deal is a well-planned one which will in turn raise more revenue for the nation.
No laws were broken
Furthermore, Mr. Ofori-Atta facing the Appointments Committee insisted that the government broke no laws in its appointment of the transaction advisor. This, he noted, despite the corruption risk assessment done by the office of the Special Prosecutor.
Moreover, the Finance Minister-designate posited that the deal remained on the right side of article 181(5) of the constitution which requires any international business or economic transaction to which the government is a party authorised by Parliament.
“I do not feel that we broke any rule and I think the Attorney General will be able to give you a firm assessment of that. I think such conjectures are inimical to growth.”Ken Ofori-Atta