Ken Ofori-Atta‘s Databank has reportedly made a whopping Ghc 159m from the government of people of Ghana for its role as transaction advisor for government bond issuance since 2017.
This was revealed by the Member of Parliament for South Dayi, Rockson-Nelson Dafeamekpor, who said his calculations were based on a document supplied to the committee that probed the Vote of Censure motion against Ken Ofori-Atta last month.
In a tabular representation of the figures, Dafeamekpor alleged that the government paid GH ₵85 million to Databank in 2021. The lowest figure the bank received for its services was in 2019 where (only) GH₵11.83million was paid to Databank.
Sharing the photo online, Dafeamekpor wrote; “This is how much Ken Ofori Atta and his company have made from the borrowings he’s made so far for this Govt….very staggering amount of money in fees. How much taxes has he paid on these huge fees earned from the borrowings?”
One of the grounds for the censure motion against Ken Ofori-Atta was the claim of conflict of interest over the involvement of Databank in the Government of Ghana’s Capital Market transactions.
His counsel at the time, Gabby Asare Otchere-Darko defended that the Commission of Human Right and Administrative Justice (CHRAJ) and not Parliament was clothed with the power to investigate issues of conflict of interest.