Ghana AKSA Power Deal: Former Goldman Sachs Banker Convicted of Bribery

• A US criminal case has revived questions about alleged payments to public officials in Ghana related to the AKSA power project.
• Former Goldman Sachs banker Asante Kwaku Berko was convicted of violating the Foreign Corrupt Practices Act and money laundering.
• Ghana's Office of the Special Prosecutor provided substantial investigative assistance to US authorities, strengthening the case for a Ghanaian inquiry.
• The AKSA controversy has significant implications for Ghana's accountability deficit and may set a precedent for investigating bribery allegations involving foreign companies.

Dafeamekpor believes that Ghana must independently determine whether its own laws were breached and whether any Ghanaian actors should face consequences, rather than relying solely on proceedings in the United States.

A recent US criminal case has reignited questions about alleged payments to public officials in Ghana related to the AKSA power project. The controversy dates back to the mid-2010s when Aksa Enerji sought to develop a power plant in Ghana. According to US prosecutors, former Goldman Sachs banker Asante Kwaku Berko participated in a scheme to bribe Ghanaian officials to obtain and retain business for the Turkish energy company. Berko was convicted of violating the Foreign Corrupt Practices Act and money laundering. The allegations had already emerged publicly in 2020 when the US Securities and Exchange Commission filed a civil enforcement action against Berko, alleging that payments were made through an intermediary in connection with the power project and some of the funds were intended for Ghanaian government officials.

Member of Parliament Rockson-Nelson Dafeamekpor has called on Ghana to independently investigate the allegations, citing the Office of the Special Prosecutor's (OSP) involvement in providing substantial investigative assistance to US authorities. The OSP had indicated that it offered tremendous assistance in terms of investigations from Ghana to support the prosecution of the case in the US. Dafeamekpor believes this strengthens the case for a Ghanaian inquiry capable of establishing the domestic dimension of the allegations. He argues that Ghana must determine whether its own laws were breached and whether any Ghanaian actors should face consequences, rather than relying solely on proceedings in the United States.

The AKSA controversy has significant implications for Ghana's accountability deficit. Dafeamekpor notes that the central issue is not which political or prosecutorial institution leads the investigation, but whether the facts are established and appropriate action follows. The case may set a precedent for investigating and prosecuting bribery allegations involving foreign companies and government officials in Ghana. Lawyers and compliance officers should monitor developments in this case, as it may have far-reaching consequences for Ghana's legal landscape.

Lawyers and compliance officers should monitor developments in this case, as it may set a precedent for investigating and prosecuting bribery allegations involving foreign companies and government officials in Ghana.

Source: Original reporting via JoyNews