Owner of Accra-based Asaase Radio, Gabby Otchere-Darko, says his business has no connection with Agyapa Royalties.
Agyapa Royalties, formerly Asaase Royalties, which is set to manage royalties from Ghana’s gold in perpetuity, has been linked to Mr Otchere-Darko due to the similarities in the names.
But in a Facebook post, the nephew of the President warned his lawyers have been instructed to sue an NDC MP over claims he owns the royalties firm.
“An MP has falsely accused me of being a beneficial owner of Agyapa Royalties, formerly Asaase Royalties, an entity registered both here in Ghana and Jersey, a British dependent, for the purposes of an anticipated listing on the London Stock Exchange.
“I am serving notice that I have instructed my lawyers to sue the MP for Bia East, Richard Acheampong for defamation,” he warned.
He stressed: “Yes, I am a shareholder in Asaase Radio, a completely separate business with absolutely no link to that state-owned company. But should my ownership of a radio station with the name Asaase mean that I am a shareholder in Asaase Royalties, as well? Stretching that illogic should also make me a shareholder in AsaaseGPS, Asaase Farms, Asaase Construction and the over 20 companies bearing the name Asaase!”
“The name change of Asaase Royalties, in my view, was a good move, and not because of Asaase Radio, per se, but because of the number of companies with similar names in the mining sector specifically and the confusion or potential passing off that could have caused”.
He also noted Ghanaians who have interest in buying shares in Agyapa Royalties can do so if the company lists on the stock exchange.
“I repeat, if you are interested in holding shares in Agyapa, please hold on until the IPO. Until then it is all owned by the Ghana Government and the transparent nature of the LSE, regarding shareholders of listed companies offers the greatest assurance Ghanaians can get anywhere.
“I’ve taken pains to search and attach a list of some of the companies registered and operating in Ghana using the name Asaase. Typical examples are Asaase Metals, Asaase Gold Trading, Asaase Mining Services, Asaase Resources, AsaaseAse Mining, and Asaasenu Mining”.