Agams Group calls for objective debates on GYEEDA transactions

Corporate Affairs Department of Agams Holdings (rLG Communications) has reiterated the company's resolve in ensuring continuous co-operation with the government of Ghana and state security apparatus to ensure full refund of the monies it owed with an agreed interest.

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AGAMS Group subsidiary, Asongtaba Contage Industry and Exchange Programme in 2013, were ordered to refund over 115 million Ghana Cedis to the state after revelations of financial malfeasance between the companies and state actors at the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA) .

wpid-Roland-Agambire.jpgCraftpro, Asongtaba Contage Industry and Exchange Programme and RLG Communications were asked to refund the monies which includes 50 million Ghana Cedis of interest-free loans.

However, an investigative committee was set up to look into the scandal that hit the erstwhile GYEEDA initiative. It was revealed that there were some mismanagement at the finance department of the Agency which was partly to blame for the fraudulent payments, which includes 5.5 million Ghana cedis in deliberate over payment.

It was then reported that, RLG received 25.5 million Ghana cedis to train 15,000 youth in technology initiatives but trained only 4,222. Asongtaba also received millions of GYEEDA funds to train youth in smock making, guinea fowl rearing among others but failed to do so.

Meanwhile, in a letter to Joy Fm, a copy which was sent to News Ghana, Agams Holdings said the discussions on Joy FM’s news analysis programme, Newsfile on Monday, February 1, 2016 and Tuesday, February 2, 2016, in relation to its outstanding dealings with the Youth Employment Agency (YES), formerly known as Ghana Youth Employment and Entrepreneurial Agency (GYEEDA) are full of misrepresentations.

It said, it will be in the interest of all “if such discussions are devoid of half-truths and misrepresentations which tend to tarnish and damage our image and consequently our business irretrievably.”

It also said, the discussions were mostly based on unverified facts and mere suspicions, opinions and false representations maliciously targeted at tarnishing the company’s image and destroying their business.

Read the full Letter to Joy Fm Below:

The News Editor,
Joy FM,
Accra.

Dear Sir/Madam,

Press Statement

Our attention has been drawn to some misrepresentations emanating from Joy FM’s news analysis programme, Newsfile over the weekend and subsequent repetition on various News programmes on Monday, February 1, 2016 and Tuesday, February 2, 2016, in relation to its outstanding dealings with the Youth Employment Agency (YES), formerly known as Ghana Youth Employment and Entrepreneurial Agency (GYEEDA) and wish to respond as follows:

1. We wish to reiterate our press statement of 12th December, 2014 in which unequivocally assured the people of Ghana that “as law abiding Ghanaian entity, we will continue to co-operate with government and state security apparatus to ensure full refund of the said amounts with agreed interests”, which assurance we have kept and substantially performed..

2. While we recognize the media’s and your networks interest in championing freedom of expression and upholding accountability we would appreciate if such discussions are devoid of half-truths and misrepresentations which tend to tarnish and damage our image and consequently our business irretrievably.

3. We hope that any subsequent discussion of this and any other matter involving of our Companies will be based on ascertained and verified facts and not mere suspicions, opinions and false representations maliciously targeted at tarnishing our image and destroying our business.

4. We count on your co-operation in this regard.

Corporate Affairs Department
Accra

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