Finance

This is how much govt has paid Databank for bond advisory services since 2017

Databank, a company partly owned by the Minister of Finance, Ken Ofori-Atta has reportedly bagged GH₵159million from government for its Transaction Advisory services on government bond issuance since 2017.

The claim is being made by the Member of Parliament for South Dayi, Rockson-Nelson Dafeamekpor who said his calculations were based on a document supplied to the committee that probed the Vote of Censure motion against Ken Ofori-Atta last month.

In a tabular representation of the figures, Dafeamekpor alleged that government paid GH ₵85 million to Databank in 2021. The lowest figure was 2019 where GH₵11.83million was paid to Databank.

The document, posted on social media, was captioned: “This is how much Ken Ofori Atta and his company have made from the borrowings he’s made so far for this Govt….very staggering amount of money in fees. How much taxes has he paid on these huge fees earned from the borrowings?”

One of the grounds for the censure motion against Ken Ofori-Atta was claim of conflict of interest over the involvement of Databank in Government of Ghana’s Capital Market transactions.

His counsel at the time, Gabby Asare Otchere-Darko defended that the Commission of Human Right and Administrative Justice (CHRAJ) and not Parliament was clothed with the power to investigate issues of conflict of interest.

After rounds of legal banter between Gabby Otchere-Darko and Dr Dominic Ayine who was the co-chair of the committee, conflict of interest was struck out as one of the grounds for the investigations.

One of Ofori-Atta’s deputies, John Ampontuah Kumah asked critics of the Finance Minister to seek interpretation at the Supreme Court over the matter.

“Those who are so pained by the current situation should go to court, the Supreme Court or the High Court. So that we can all be guided because, as far as I am concerned, these two public officers have acted within the law. Even at their vetting, they’ve disclosed this; every information has been put out there. All of a sudden, it is turning out to be another unheard of situation,” he said.

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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