Information reaching norvanreports indicate that local investment bank, Databank, has reportedly withdrawn from its role as transactional advisor in the controversial Agyapa Royalties deal.
Databank according to reports, wrote to Directors of Imara Tower holdings – one of the transactional advisors of the deal – requesting that it also withdraws from the transaction.
The decision according to Databank is based on attempts by some persons to tarnish its reputation.
Databank has been at the centre of the transaction which has been described by Ghana’s former Special Proseccutor, Martin Amidu, as being suspicious of bid rigging and corruption activity including the potential for illicit financial flows and money laundering in his corruption risk assessment of the deal.
The deal sought to monetize the country’s mineral royalties.
More update to follow soon….
