Blessed Godsbrain Smart popularly known as Captain Smart has asked the host of Metro TV’s ‘Good Evening Ghana’, Paul Adom-Otchere to stop fooling over his recent comments on the use of Finance Minister, Ken Ofori-Atta’s Databank as transactional advisors for the international loans Ghana takes.
The appointment of Databank as the transaction advisor on Ghana bonds puts Ken Ofori-Atta in a conflict of interest situation.
Data Bank getting richer
According to a veteran broadcaster, Kwasi Kyei Darkwah, popularly known as KKD, Ofori-Atta, and Parliament must be blamed for the woes of the Ghanaian economy.
He described as foolishness and nonsensical the use of Databank as transactional advisors for the international loans Ghana takes.
Speaking on GTV Breakfast Show on Wednesday, August 17, 2022, he questioned why only Ofori-Atta’s company Databank is used as a transactions advisor to the government on loans that are entered into.
He called out Parliament for sleeping on their job by allowing Ofori-Atta to engage in such activities with his own company.
According to him, “I read a report yesterday that broke my heart. I saw how much Ghana owes but I also found that apparently, the minister of finance’s company or former company, is the transaction advisor to the monies we borrow. So, as Ghana gets poorer, the minister of finance’s company or former company gets richer.”
KKD said once the Minister has accepted his role as a public officer, a private business associated with him cannot be mandated to be an advisor on the issuance of government securities.
Adom-Otchere defends Ofori-Atta
Adom-Otchere in his quest to redefine conflict of interest said the allegations by KKD that the Finance Minister’s former company makes money from all of the government’s borrowing are not true.
In an editorial on his show, Adom-Otchere said the things KKD said can best be described as pure hate and jealousy.
He argued that Ken Ofori-Atta’s Databank has been involved as advisors for Ghana in the Eurobond market since 2014.
Therefore, it cannot be true that Databank only became involved when Ofori-Atta was appointed Minister of Finance by President Nana Addo Dankwa Akufo-Addo in 2017.
“I agree with KKD, people can’t take up government contracts and set up a company, that I agree with. But the references he is making are to people whose companies have not been set up today, they have been doing that work already.
