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.
Read Gabby’s post on the Agyapa Deal
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. But, I thank them for that move.
It is good for our democracy. And, I will urge you all to read the decision of the ECOWAS court. Agyapa, a very legitimate, even if controversial, move by govt to expand the use of its gold revenues, had no corruption about it. Zero!
You may not like it but to say, as they did, that a group of related persons were stealing Ghana’s gold was really sad and low. We the lawyers who worked on it were excited about the innovativeness of the whole MIIF institution which Parliament created and the things it was set up to do, including Agyapa.
We were never motivated by even our fees. How floating on the London Stock Exchange 49% of an entity 100% owned by Ghana could be described as stealing is indeed sad and baffling.
I have not loved Ghana less since my cousin became president. What some of us try to do is to go out of our way to help. Assist when we can. Occasionally it may get one into controversy and those who want to spin and blame one when they rather screw up may easier be believed than one. But that is the price…
Soon, Jan 7, 2025, Nana’s term will be over, and another Gabby may emerge. I can’t wait, frankly! I can only wish him or her (the next Gabby) the best of luck!
Whoever that may be, please just let your integrity guide you. Stay firm and do what you see to be right for God and country. Don’t let the propaganda get you down.