Public Agenda NewsPaperPublic Agenda NewsPaper
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Font ResizerAa
Public Agenda NewsPaperPublic Agenda NewsPaper
Font ResizerAa
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Search
  • General News
  • Politics
  • Business
  • Health
  • Development Agenda
  • World News
  • Features & Opinions
  • Election watch
  • Editorial
Follow US
Breaking NewsBusiness

Databank abandons Agyapa deal

Suleman
Last updated: February 11, 2021 10:28 am
Suleman
Share
3 Min Read
SHARE

Investment and brokerage firm, Databank has served notice to Imara Holding Limited of their decision to withdraw their services as a partner and transaction advisor in the controversial Agyapa royalties deal.

Databank and Imara Holding Limited were co-partners and transaction advisors for the Agyapa Gold Royalties Company.

According to the Group CEO of Databank, Kojo Addae-Mensah, in a letter to Imara Holding Limited, he stated that their decision to withdraw follows several attacks on their reputation by political actors as a result of the Finance Minister’s association with the investment firm.

This he says was intensely felt during the just ended 2020 elections.

“The Board of Directors of Databank has observed with deep concern persistent attempts by some political actors, during the political season leading up to the general elections of December 2020, to tarnish our hard-won reputation painstakingly built over the last 30 years, by unfairly exploiting our participation and involvement in the transaction as one of the transaction advisors. We believe this is principally due to the Minister of Finance’s association with Databank as its co-founder.”

He added that despite the great rewards they are certain the country would benefit from the said transaction, the insinuations made against the brokerage by these political actors “not only grossly compromise the ability to execute such a market-sensitive and novel transaction, but also has a real tendency to severely damage the invaluable business reputation of Databank.”

He further explained that the bank’s decision to withdraw is an attempt to salvage the hard-earned reputation they had painstakingly built over the last 30 years.

“It is this deep market knowledge and extensive experience that makes us understand that the potential damage from the fall out of all the negative press regarding Databank’s involvement in the Agyapa transaction, especially the proposed IPO, despite our sterling track record over the years, is incalculable both in the domestic and international financial markets.”

“The reasons expressed above have compelled us to take the hard-decision to formally withdraw our services as your partner and co-transaction advisor on this mandate.”

Publicagendagh.com

Share This Article
Facebook Whatsapp Whatsapp Email Copy Link Print

Latest News

Ablekuma North: EC to rerun Parliamentary Election in 19 Polling Stations
July 2, 2025
Mid-Year budget to clarify road contractor payments – Ampem Nyarko
July 2, 2025
 ISODEC Urges Citizens to Engage More in Local Governance Processes 
July 2, 2025
Mfantseman Youth Trained to Strengthen Local Governance Participation 
July 2, 2025
Government Reaffirms Commitment to Investment-Friendly Environment to Attract Development Financing
July 1, 2025
New UN report charts path out of debt crisis threatening global development
June 30, 2025
World Bank backs Ghana $360m to strengthen macroeconomic stability
June 30, 2025

You Might Also Like

Breaking NewsElection watchtop stories

GJA holds national and regional elections today

June 30, 2025
Breaking NewsBusinesstop stories

PURC announces 2.45% increase in Electricity tariffs from July 1

June 26, 2025
Breaking NewsBusinesstop stories

Iran cannot unilaterally shut Strait of Hormuz – NPA boss

June 23, 2025
Breaking NewsBusinesstop stories

Israel-Iran war: Fuel prices likely to rise in July – COPEC

June 23, 2025

About Us

Public Agenda is fou­nded and owned by Pu­blic Agenda Communic­ations.

Public Agenda was founded as a public interest Me­dia entity. Its Visi­on is to contribute to building a well-i­nformed society where accurate informati­on dissemination is the cornerstone of a democratic, just and equitable society.

Its mission is to inform, guide and bui­ld responsible citiz­enship and accountab­le decision making and strive for excell­ence in the media in­dustry. Public Agenda Communications is managed by a Board of Directors.

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?