The SAS Finance Group has denied acting as transaction advisor to government between 2011 and 2012 for the establishment of a Mineral Royalty Company.
“We wish to state that the Group was invited to a consultative meeting in 2011 on the establishment of 100 per cent State-owned entity to hold Ghana’s gold asset including 10 per cent carried interest in gold mining companies and to receive royalties due to the State,” it said.
A statement issued in Accra signed by the Executive Director of the Group and copied to the Ghana News Agency in Accra, said SAS Finance Group was never given a mandate to act as transaction advisor.
The statement said Togbe Afede XIV, the Chief Executive Officer of the Group, was not paid anything for attending that meeting.
The statement said Togbe Afede attended the meeting like many other similar meetings at various Ministries and under different governments.
The SAS Finances Group urged the public to disregard information circulating on social media platforms purporting to suggest that the Company served as an advisor to the then government.