The International Monetary Fund (IMF) has reported US$1.7 billion in losses associated with the Domestic Gold Purchase Programme (DGPP) in Ghana. The programme, run by state-owned GoldBod, has been at the center of controversy over its losses and the government's control over natural resources.
AKSA Power Deal Under Scrutiny
A United States prosecution involving former Goldman Sachs banker Asante Kwaku Berko has put allegations of bribery surrounding a Ghanaian power transaction back in the spotlight. The deal, involving AKSA, a Turkish energy company, has sparked questions about whether Ghana was cheated and who benefited from the alleged scheme.
GoldBod has maintained that the reported losses should not be presented as a loss suffered by the institution. Its audited accounts, according to the company, show a substantial surplus. However, the IMF's report has raised questions about the true extent of the losses and who absorbed the cost.
Operation Recover All Loot (ORAL) on Hold
The government's Operation Recover All Loot (ORAL) cases are currently on hold due to the court vacation. The prosecution has identified dozens of cases considered ready for prosecution, but the two-month break may slow down the government's corruption drive. It remains to be seen whether urgent criminal cases can continue despite the vacation, and if ORAL will lose momentum just as some of its cases begin taking shape.
Adamus Mining Dispute Raises Due Process Concerns
The government's decision to revoke three Adamus Resources leases over alleged breaches of mining laws has sparked a dispute over due process. The company rejects the allegations and claims that the revocation itself breached due process. As the dispute continues, the government's actions are being scrutinized, and it is unclear whether the government is enforcing the mining law or if its own actions will face the same legal scrutiny.
The controversies surrounding the GoldBod programme, the AKSA power deal, Operation Recover All Loot, and the Adamus mining dispute raise difficult questions about accountability, due process, and who ultimately pays when the state gets involved. As the government exercises greater power in the name of the public interest, it is essential to ensure that the state is held accountable for its actions.
Source: Joy Online
