The Republic of Ghana has floored Transparency International, Ghana Integrity Initiative (GII) and Ghana Anti-Corruption Coalition (GACC) in a case where it was alleged that the Government of Ghana had established a special purpose vehicle (SPV) called Agyapa Royalties Limited (Agyapa Royalties) which risks being connected to conduct of illegality under the laws of Ghana.
Transparency International, GII and GACC constituting the applicants, had also alleged that persons in charge of the SPV and on the Board of Directors of MIFF have close ties with politically exposed persons claiming it constitutes red flags.
However in a judgement delivered by the Community Court of Justice, ECOWAS, the court thrashed out their case noting that “With respect to the third issue that there are politically exposed persons within the transaction, the Court finds that the Applicant has failed to show how this has affected the exploitation of the common wealth for the benefit if the people of Ghana”.
Excerpts of judgement below…
