Confirmed: AGAMS pays up illegal GYEEDA loans; ?100m yet to be collected

Joy News checks with the Attorney General has confirmed that AGAMS Holdings has paid up loans it illegally obtained from the state.

A final cheque from Craftpro is expected to clear at the bank to wrap up payments that have taken at least three years to make.

Head of Joy News’ Investigations Desk, Manasseh Azure Awuni, ran checks from the office of the Attorney General’s Department Monday after a staff at the presidency revealed the payments had been made.


Loan (in GH₵)

Interest (in GH₵)

Total to be paid(GH₵)

AGAMS Holdings


42,268,520 m

2.909,232.6 m



7,132,488.38 m




7,958,807.39 m



TOTAL (In millions)




The three companies of AGAMs Holdings, chaired by Roland Agambire, have paid more than GH₵ 61million with interest after taking more than GH₵ 57 million in 2012.

AGAMS took the monies to provide services aimed at training unemployed youth and providing jobs in the face of rising unemployment.

But the loans given by government through the youth employment agency, GYEEDA, were deemed illegal by the Auditor-General who then ordered a refund in 2012.

AGAMS also failed to deliver on the services it was contracted to provide.

Government has been put on the back foot since the scandal broke in 2012 and timelines given by the President to collect the payments have been missed.

GYEEDA had a budget allocation of some GH₵20million but became awash with nearly GH₵200 million in unapproved funds.

AGAMS owed by Mr. Agambire and Jospong Groups of companies owned by Dr. Joseph Siaw were the biggest beneficiaries of the illegal payments.

Roland Agambire and Joseph Siaw
Manasseh Azure says more than GH₵100 million is left to be retrieved in a scandal which has generated few prosecutions.

In what has been described as ‘steal and refund’, pressure group Occupy Ghana is incensed that not enough is being done to punish public officials and private individuals who collude in stealing from the public purse.

A leader in the group, Ace Ankomah has noted a former Sports Minister Mallam Issah was jailed after just $46,000 in his possession went missing.

He said the amount involved in the GYEEDA scandal makes Mallam Issah’s case look like ‘pocket change’.

Story by Ghana|

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