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I didn’t consult for planned Royalties Company under NDC – Togbe Afede

SAS Finance Group has refuted claims that its Founder Togbe Afede XIV was contracted by the NDC government as transaction advisors for the establishment of a Minerals Royalties Company.

There have been reports on Social media that SAS Finance Group was contracted to undertake that work during the Mills-Mahama regime when the plan to form a company to manage royalties from Ghana’s minerals was conceived.This claim follows Togbe Afede’s disapproval of the controversial Agyapa Royalties being pushed by the Akufo-Addo government.

In a statement, SAS Finance group said: “Our attention has been drawn to images circulating across social media platforms purporting to suggest that SAS Finance Group was advisor to Government of Ghana between 2011 and 2012 on the establishment of a Minerals Royalty Company.

“We wish to state that SAS was invited to a consultative meeting in 2011 on the establishment of 100% state-owned entity to hold Ghana’s gold assets, including its 10% carried interest in gold mining companies, and to receive royalties due to the state.

“Togbe Afede XIV, CEO of the SAS Finance Group, attended this meeting, like many other similar meetings at various ministries and under different governments. SAS was never given a mandate to act as a transaction advisor, neither was the firm or Togbe paid for attending this meeting,” The statement emphasized.

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