No conflict of interest in Databank’s involvement with Agyapa deal—Ken Ofori Atta

The passage of outstanding revenue bills by Parliament remains critical to government programmes as well as to enable the state to complete four of the five agreed prior actions in the International Monetary Fund (IMF) Staff Level Agreemen
Ken Ofori Atta

Finance Minister Designate, Ken Ofori Atta has refuted assertions that there was a conflict-of-interest situation in the Agyapa deal involving the role investment bank, Databank played as transaction advisors.

Databank withdrew from the Agyapa deal in February 2021 explaining that the decision was due to attacks on the company by political actors due to Ofori-Atta’s, association with the firm.

Reacting to the issue for the first time during his appearance before the Appointment Committee of Parliament, Mr. Ofori Atta stressed that there was no situation of conflict of interest since he was part of the people who took the decision to engaged Databank—a company he co-founded.

“I think we should be having a broader discussion about Ghanaian enterprises, and how experienced entrepreneurs can join government at any time,” he said.

Mr. Ofori Atta was of the view that indigenous companies that have shown to have the capacity to deliver must be allowed to work without prejudice.

He stated that Databank is a reputable investment company with over 30 years of experience and has participated in every Eurobond issue—hence is qualified to handle the Agyapa deal as transaction advisor.

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