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The Agyapa Royalties Transaction Update

The Agyapa Royalties Transaction Update

Accra, Friday 9th October, 2020…On 14th September, 2020, the Office of the Special Prosecutor (OSP), in exercise of its mandate pursuant to sections 2 (1) (c), 29, 69 and 73 of Act 959 and Regulation 31 (1) and (2) of L.I. 2374 requested for information and production of documents in relation to a risk assessment it was conducting on Agyapa Royalties transaction. 

Ministry of Finance (MoF) welcomes the decision of the Special Prosecutor to undertake this assessment and views it as an opportunity to address some of the concerns raised in respect of this transaction. Such an assessment is welcome to reassure all Ghanaians that the transaction has and will continue to adhere to the highest levels of corporate governance and transparency. 

However, any such exercise and the findings thereof, by the Office of the Special Prosecutor of Ghana shall be deemed material to the IPO and public listing of Agyapa , and will therefore need to be fully disclosed in the prospectus prior to applying to the regulators of the UK and Ghana Stock Exchanges for approval to launch the IPO. 

This Ministry is, therefore, working with the OSP to successfully complete this exercise. In the interim, the OSP has been notified by MoF that the IPO shall not be launched until the risk assessment has been completed. END

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