Accra: A number of Ghanaian politicians from the country's two largest parties, the National Democratic Congress and the New Patriotic Party, have been implicated in the AKSA bribery scandal, which has led to the conviction of former Managing Director of the Tema Oil Refinery, Asante Kwaku Berko.
According to Ghana Web, Asante Berko was found guilty of paying bribes totalling over $1 million to politicians, government officials, and Members of Parliament from both parties to secure a power deal between AKSA Energy and the government of Ghana. Berko, a dual United States and Ghanaian citizen, is an experienced economist and investment banker who has held various executive roles in globally recognized organizations, including Barclays Capital/Absa Capital, Credit Suisse, Ernst and Young LLP, and Goldman Sachs International.
Berko's career highlights include serving as an Executive Director in the Investment Banking Division at Goldman Sachs International from July 2014 to March 2017. During this period, he was responsible for managing a transaction between Goldman Sachs and its client, an unnamed Turkish energy company, involving a power plant deal in Ghana. According to energynewsafrica.com, Berko previously worked as Vice President, Asset Finance at Credit Suisse in New York, and headed Debt Capital Markets and Structured Asset Solutions at Barclays Capital/Absa Capital in Johannesburg.
In a summary provided by the US Securities and Exchange Commission (SEC), Berko was involved in a conspiracy to make corrupt payments to officials associated with the Ministry of Power in Ghana to secure business for Goldman Sachs and the Turkish energy company. This scheme involved more than $700,000 in bribes and potential business opportunities for Goldman Sachs, which could have yielded significant fees.
On August 26, 2020, the DOJ filed a three-count indictment against Berko, alleging conspiracies to violate the anti-bribery provisions of the FCPA and to commit money laundering. Berko was extradited to the U.S. on July 15, 2024, where he pleaded not guilty. However, he was ultimately found guilty by a jury of all charges against him.