BoG Vs Asante Gold Corp: David Tamakloe Petitions Office of The Special Prosecutor

Journalist and Editor of WhatsupNewsGhana, David Tamakloe, has submitted a petition to the office of the Special Prosecutor.

The document, regarding alleged improprieties involving Asante Gold Corporation (Asante) and the Bank of Ghana (BoG) includes the nature of the impropriety, individuals involved, the time and place, and specific comments highlighting the concerns.

Mr. Tamakloe raised the concerns that, the impropriety which revolves around a $100M loan provided by the BoG to Asante, potentially involves improper payments made by Asante and causing financial loss to the state.

He indicated also that Asante’s financial statements show the payment of facilitation fee to undisclosed individuals for organizing the loan from the BoG. Meanwhile the loan terms, which were characterized as a gold pre-purchase agreement, appear to be unfavorable to the state.

“I raised several concerns, including the inadequate collateral provided by Asante, the low interest rate compared to Asante’s other loans, and the involvement of a BoG board member who has a financial interest in Asante. Asante has also defaulted on the loan agreement,” Mr Tamakloe stated in an interview with ghananewsonline.com.gh.

He said in his view the documents conclude that there is a lack of commercial logic in BoG choosing Asante as a counterpart for the loan because it has resulted in a potential financial loss to the state.

The disclosure also recommends a comprehensive investigation into the matter to determine the extent of the impropriety and address the concerns raised.

“I have attached financial statements of Asante Gold Corporation to support my claim,” he revealed.

The Auditor General, Office of the Attorney General, the Director General of the State Interests Governance Authority (SIGA), and the Director of the Financial Intelligence Centre have all been copied in the petition.

Source: Gertrude Amuzu || Ghananewsonline.com.gh