Vice President of Imani Africa, Bright Simons, has revealed that Ghana’s only state-backed gold refinery, Royal Ghana Gold Refinery is owned by some “powerful, shadowy individuals” in Ghana.
Although the refinery is supposed to belong to the state, that is far beyond the truth, as these individual Ghanaians hold majority shares of the company.
Initially, it was disclosed that an Indian firm Rosy Royal was the company investing $80m in the refinery, but an investigation carried out by Mr. Simons and his team proved Rosy Royal was a shell company.
According to him, the law firm, Bentsi-Enchill which was tasked to do its due diligence on the international investors, Rosy Royal to ascertain their legitimacy failed to do so.
“We reveal exclusively that Bentsi-Enchill, the law firm tasked to do the due diligence on the so-called “international investors” behind the state-backed refinery could not proceed. The investors flat out refused. Yet, the government was not perturbed,” Bright Simons wrote on X.
Bright Simons and his team who smelled something fishy after this refusal decided to dig into the matter to find out the true owners of the 80% share. They embarked on a trip to India for this investigation which left them shocked.
“Exasperated by the refusal of the PMMC, Ministry of Land & Natural Resources, and Bank of Ghana, to answer simple questions as to who really owns the $80 million equity being fronted by Rosy Royal, we decided to send scouts and investigators to Gujarat to hunt down the mysterious owner of the company, Murtaza Sirajbha Samiwala.”
“Mr. Samiwala provided the following address to the Ghanaian authorities during the setup of the elaborate machinery that is the subject of our ongoing investigations: 601/602 Juni Bahumal. This is supposed to be an apartment in Nanpura, in the Surat City region of India.”
“Imagine then the horror of our investigators when we failed to trace Mr. Samiwala in Nanpura! There is definitely an area called Bahumali in Nanpura. It even has a large well-known building of the same name. What simply doesn’t exist is a street called “Juni Bahumal”. Nor a building in the said Juni Bahumal with apartments numbered 601 and 602, in which, happily esconced, is a multimillionaire capable of blessing a West African country with a gold refinery. Our inquiries with the Gujarat Chief Postmaster General’s office confirmed our fears: the address is shady!” their investigations revealed.
He believes Rosy Royal is simply a ghost investor fronting for powerful people in Ghana.
See post:
1. We bring to readers an update in our investigation into the powerful, shadowy, individuals, holding stakes worth ~$80 million in Ghana’s only state-backed gold refinery that should properly belong to the state.
2. We reveal exclusively that Bentsi-Enchill, the law firm tasked… pic.twitter.com/4qnLlyhebr
— Bright Simons (@BBSimons) December 18, 2024
