General News of Monday, 26 February 2024
Source: www.ghanaweb.com
The botched Agyapa deal cost the government US$12 million with an outstanding debt of US$2m, according to documents sighted by GhanaWeb.
The Chief Executive Officer of the Minerals Income Investment Fund (MIIF), Edward Nana Yaw Koranteng, recently disclosed the US$12m figure to Parliament's Public Accounts Committee.
IMANI Africa Vice President Bright Simons published on X (formerly Twitter) a breakdown of how ten local and international entities were paid varying sums that came up to the amount.
Asked by a tweep if the outstanding debt of US$2m meant the entire expenditure came up to US$14m, he answered in the affirmative. However, he clarified that the figure could rise by now since the sum was due before the suspension in 2021.
"The $2m is yet to be paid. Note however that the transaction is in limbo. If they proceed they will also have to pay underwriting and a host of other fees,which will be larger. Then there is interest. And any compliance fees not disclosed here," he pointed out.
Watch his tweet below:
Yes. The $2m is yet to be paid. Note however that the transaction is in limbo. If they proceed they will also have to pay underwriting and a host of other fees,which will be larger. Then there is interest. And any compliance fees not disclosed here.
— Bright Simons (@BBSimons) February 23, 2024