Former Ghana Power Minister Dr Kwabena Donkor has strongly denied receiving any money from Asante Kwaku Berko, following the conviction of the former Goldman Sachs executive in a major US bribery case involving Ghana’s power sector.
Asante Berko, a Ghanaian-American businessman and former Managing Director of the Tema Oil Refinery (TOR), was convicted on August 6, 2026, by a federal jury in Brooklyn, New York, for his role in a bribery scheme involving more than US$1 million.
US prosecutors accused Berko of conspiring to pay and paying bribes to several Ghanaian officials between 2014 and 2015 in connection with the development and financing of a power plant in Ghana. The project involved Aksa Energy Uretim A.S., a Turkish energy company and client of Goldman Sachs.
Kwabena Donkor Rejects Bribery Allegations
At the time of the Aksa Energy power project, Dr Kwabena Donkor was the Member of Parliament for Pru East and Minister of Power. The project was handled under his leadership at the Ministry of Power.
However, Dr Donkor has denied any involvement in the alleged bribery scheme, insisting that he never received money from Asante Berko or any other individual in connection with the transaction.
In a statement issued through his lawyers at Cavendish Chambers, the former Power Minister also said he had never met Asante Berko at any point.
Dr Donkor resigned as Minister of Power on December 31, 2015, shortly after the period covered by the US bribery allegations.
Former Power Minister Threatens Legal Action
Reacting to reports linking his name to the case, Dr Kwabena Donkor warned that any publication he considers defamatory or damaging to his reputation could lead to immediate legal action.
His denial comes as the conviction of Asante Berko brings renewed attention to allegations of corruption, bribery and improper payments involving Ghanaian officials and international energy projects.
The US court case has generated significant interest in Ghana because of its connection to the country’s power sector and the financing of a major electricity-generation project involving a Turkish energy company.
Dr Donkor maintains that he had no financial dealings with Berko and has rejected any suggestion that he benefited from the alleged bribery scheme.
Read a copy of the news release that Cavendish Chambers attorney K.T. Hammond made on his behalf.
Justice Srem Sai wrote on X:
The Backstory
Asante Berko Convicted in US$1 Million Ghana Power Plant Bribery Case
Former Goldman Sachs investment banker and Tema Oil Refinery (TOR) Managing Director Kwaku Asante Berko has been convicted in the United States for his role in a bribery and money laundering scheme linked to the development and financing of a major power plant project in Ghana.
Berko, 52, was convicted by a federal jury in Brooklyn, New York, on charges involving conspiracy to violate the Foreign Corrupt Practices Act (FCPA), violations of the FCPA and conspiracy to commit money laundering.
The Ghanaian-American businessman was accused of conspiring with associates outside Goldman Sachs to pay more than US$1 million in bribes to Ghanaian government officials in an effort to secure approvals for a lucrative power plant project.
Asante Berko Bribery Trial
Berko went on trial in late July 2026 after US prosecutors alleged that he used his position as an investment banker to facilitate the power plant transaction for Aksa Enerji Uretim A.S., a Turkish energy company and Goldman Sachs client.
US prosecutor Katherine Raut told the federal jury during opening arguments that Berko and his associates allegedly paid more than US$1 million to high-ranking Ghanaian officials approximately a decade ago to help secure approval for the development and financing of the multimillion-dollar electricity project.
Following a nine-day trial before United States District Judge Diane Gujarati, the jury found Berko guilty on all counts contained in the indictment.
Berko has been remanded in custody pending sentencing and could face up to 30 years in prison.
Ghana Power Plant Deal and Alleged Bribery
According to evidence presented during the trial, Berko became involved in the transaction in December 2014 while serving as an Executive Director in Goldman Sachs’ Investment Banking Division.
He was responsible for securing and managing a deal between the Government of Ghana and Aksa Enerji for the construction and financing of a power plant during a period when Ghana was experiencing a severe energy crisis.
Prosecutors said Berko and his co-conspirators allegedly paid or agreed to pay bribes to individuals at different levels of the Ghanaian government to help Aksa secure the contract to construct and operate the power facility.
In April 2015, prosecutors said discussions took place concerning an alleged US$1 million payment to Ghana’s Minister of Power and US$250,000 to a senior adviser.
The prosecution also presented evidence that five Ghanaian officials received benefits during an all-expenses-paid trip to Turkey to inspect equipment connected to the proposed power plant.
‘Holy Rain’ Bribery Payments
After the Ghanaian Parliament ratified the Aksa power agreement in July 2015, prosecutors said Berko and his associates exchanged emails discussing alleged bribe payments.
In August 2015, they allegedly discussed approximately US$250,000 in payments to various individuals, including about US$46,000 allegedly paid to members of the Ghanaian Parliament.
Prosecutors said some of the communications referred to a bribe payment as “holy rain.”
The alleged payments were part of a broader scheme that prosecutors said was designed to influence Ghanaian officials and secure the power plant agreement for Aksa Energy.
Money Laundering and Shell Companies
US prosecutors also accused Berko and his associates of taking steps to conceal the alleged bribery scheme from Goldman Sachs and other parties.
According to evidence presented in court, Berko allegedly provided false information to Goldman Sachs’ compliance team, which was responsible for reviewing the transaction.
He also allegedly used his personal email address rather than his Goldman Sachs business account when communicating about the deal and the alleged bribe payments.
Prosecutors further alleged that the money was concealed and transferred through shell companies, sham invoices, nominee bank accounts and cash withdrawals.
Some of the alleged payments were moved through US and foreign bank accounts as part of the money laundering conspiracy.
Goldman Sachs eventually withdrew from the transaction after corruption concerns emerged.
US Department of Justice Announces Conviction
The conviction was announced by Joseph Nocella Jr., US Attorney for the Eastern District of New York; A. Tysen Duva, Assistant Attorney General of the Justice Department’s Criminal Division; and James C. Barnacle Jr., FBI Assistant Director in Charge of the New York Field Office.
US authorities said the case demonstrates their continued efforts to combat international corruption and protect fair competition in global business.
The US Department of Justice also credited international partners, including authorities in the United Kingdom and INTERPOL, for their assistance in securing Berko’s arrest and extradition.
The case was prosecuted by the Business and Securities Fraud Section of the US Attorney’s Office for the Eastern District of New York and the Justice Department’s Criminal Division’s Fraud Section.
International Fight Against Corruption
The Asante Berko conviction has renewed attention on international bribery, corruption, money laundering and enforcement of the Foreign Corrupt Practices Act.
The case also highlights the increasing cooperation between US law enforcement agencies and foreign authorities in investigating alleged corruption involving multinational companies, government officials and major infrastructure projects.
Berko’s sentencing is expected to determine the prison term he will serve following his conviction on the federal bribery and money laundering charges.
Source: graphic.com.gh