The expenditure incurred by the government on the failed Agyapa Royalties deal surpasses the previously reported US$12 million, as revealed by Edward Nana Yaw Koranteng, CEO of the Minerals Income Investment Fund (MIIF), during a recent disclosure to Parliament’s Public Accounts Committee (PAC).
Even before the Mines and Energy Committee of Parliament could receive detailed information regarding the expenses, a breakdown of the entities that received payments from the US$12 million sum was already made available online.
Bright Simons, Vice President of IMANI Africa, shared a breakdown on X (formerly Twitter), illustrating how 10 entities, both local and international, were paid varying amounts totaling up to the reported sum.
However, the document he shared also indicated that there remained an outstanding balance of US$2 million owed to certain entities at the time the deal was suspended, suggesting that the total expenditure recorded in the books would reach US$14 million.
Among the notable payments, Imara Holdings, serving as the transaction advisor, received the largest share, amounting to over US$9.6 million.
Various legal and audit firms also received payments of varying amounts, along with over US$1.5 million disbursed as staff salaries.
Additionally, the Ghana Stock Exchange received a payment as well.
