Mali will no longer take part in the affairs of African Union a continental body that brings together all 55 Member States.

The African Union has effectively suspended Mali’s membership and threatened sanctions in response to a second military coup last Friday.

Former vice president Assimi Goita, a colonel who led both coups, was declared president on Friday. Interim President Bah Ndaw and Prime Minister Moctar Ouane were detained and pressured to resign.

In a statement the AU’s Peace and Security Council said Mali’s suspension – effective immediately – would remain until “normal constitutional order has been restored”.

Failing “an unimpeded, transparent and swift return to the civilian-led transition”, the council said targeted would follow.

Below is the full statement by AU against the Mali situation

Adopted by the Peace and Security Council (PSC) of the African Union (AU), at its 1001^st meeting held on 1 June 2021, on the situation in Mali.

The Peace and Security Council,

Recalling its previous communiques and press statements on the situation in Mali and in the Sahel region, in particular Communique [PSC/PR/COMM. (M)] adopted at its 1000th meeting held on 25 May 2021 and Communique [PSC/PR/COMM.(CMXLl)] adopted at its 941st meeting held on 19 August 2020;

Taking note of the opening remarks by the PSC Chairperson for June 2021 and Permanent Representative of the Republic of Burundi to the AU, H.E. Ambassador Joel Nkurabagaya and the statements by the AU Commissioner for Political Affairs, Peace and Security, Ambassador Bankole Adeoye; H.E. Ambassador Amma Adomaa Twum-Amoah, Permanent Representative of Ghana to the AU, as the representative of ECOWAS Chair and Ambassador Fafre Camara, Permanent Representative of Mali to the AU, as well as the briefing by the Special Representative of the Chairperson of the AU Commission and Head of the AU Mission for the Sahel (MISAHEL), H.E. Ambassador Maman Sidikou;

Deeply concerned about the evolving situation in Mali and its negative impact on the gains made thus far in the transition process in the country;

Also recalling the Communique of the Extraordinary Summit of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government, held on 30 May 2021, in Accra, Ghana;

Mindful of the provisions of all relevant AU normative instruments, including the AU Constitutive Act; the Protocol Relating to the Establishment of the Peace and Security Council of the African Union; the African Charter on Democracy, Elections and Governance; and the Declaration on the Framework for an OAU Response to Unconstitutional Changes of Government, adopted by the 36th Ordinary Session of the OAU Assembly of Heads of State and Government, held in Lomé, Togo, July 2000 (the Lomé Declaration);

Reaffirming the unwavering commitment of the AU to respect the sovereignty, unity and the territorial integrity of Mali, as well as the AU’s solidarity with the people and Government of Mali;

Acting under Article 7 of its Protocol, the Peace and Security Council,

1. Endorses the decisions adopted by the Authority of Heads of State and Government of ECOWAS, as outlined in paragraph 8 of its Communique issued on 30 May 2021, in Accra, Ghana;

2. Condemns in the strongest terms possible and totally rejects coups d’état and unconstitutional changes of government in the Continent, consistent with the provisions of Article 4(p) of the AU Constitutive Act;

3. Decides, accordingly, in line with the relevant AU normative instruments, to immediately suspend the Republic of Mali from participation in all activities of the African Union, its Organs and institutions, until normal constitutional order has been restored in the country;

4. Strongly urges the Malian military to urgently and unconditionally return to the barracks, and to refrain from further interference in the political processes in Mali, while calling for the creation of conducive conditions for an unimpeded, transparent and swift return to the civilian-led transition, based on the agreed transition roadmap for Mali, failing which, the Council will not hesitate to impose targeted sanctions and other punitive measures against any spoilers of the current transition;

5. Calls on the Malian defence and security forces to immediately lift all restrictions on all political actors, including the house arrest of H.E. Bah N’Daw and H.E. Moctar Ouane ;

6. Calls upon the transitional authorities to respect and abide by the originally stipulated 18 months transitional period and, therefore, appeals once again to the Malian people to place the supreme interests of the country and its people above all else, to remain calm and to continue to work together within the framework of the 2015 Peace and Reconciliation Agreement for Mali, which emanated from the Algiers process, with the effective participation of women, the youth and Malians in the Diaspora, to resolve the current crisis, and organize free, fair and credible democratic elections on 27 February 2022;

7. Requests the Chairperson of the Commission through his Special Representative and Head of AU Mission in Mali and the Sahel (MISAHEL) to continue to closely coordinate with the ECOWAS Special Envoy and Mediator to Mali, H.E. Goodluck Ebele Jonathan, former President of the Federal Republic of Nigeria;

8. Expresses support for the United Nations Multidimensional Stabilization Mission in Mali (MINUSMA), and commends its efforts in Mali, while reiterating AU’s readiness to actively collaborate with the UN in maintaining peace, stability and security in Mali;

9. Demands unambiguously that the current leadership of the transition process, including the Head of the Transition, Vice-President and Prime Minister, should not, under any circumstances, be candidates for the forthcoming presidential election in Mali;

10. Calls on the military leadership and all political stakeholders to fully and unconditionally respect the transition charter while urging for the immediate appointment of a civilian Prime Minister to lead the conclusion of the transition process and to coordinate a genuinely inclusive national reconciliation and dialogue process for the stability of Mali;

11. Further decides to constitute a PSC evaluation mission to Mali, to engage with all concerned stakeholders and the ECOWAS Special Envoy and Mediator, in order to identify areas in which the AU could provide support to Mali, particularly as this relates to the implementation of the transition programme and the holding of elections;

12. Appeals to the international community to extend financial support to Mali in order to enable it to address the grave macroeconomic challenges facing the country and ensure that the transition plan is not derailed;

13. Also requests the Chairperson of the Commission to monitor the situation in Mali closely and to provide regular updates to Council, at least once every quarter and as necessary; and

14. Decides to remain actively seized of the matter.

Birim Group LLC an equity fund and securities investment company based in the United States has brought charges against Dr Papa Kwesi Nduom, a Ghanaian Politician and flag bearer of Progressive People’s Party (PPP).

Groupe Nduom- the umbrella company for 60 other businesses owned by Dr Nduom is being accused of laundering a total of U$63,000,000.

“The Nduom family defendants, by and through their ownership, control and use of defendants GN Bank, Gold Coast Fund Management and over 60 undercapitalised interrelated companies, collected several million dollars of depositor’s saving, investment contributions and insurance premiums, and in violation of U.S. and Ghana laws illegally laundered approximately $63,000,000 of depositors’ funds through its Virginia-based sham ‘procurement and consulting service’ company, International Business Solutions,” Birim Group LLC stated.

The statement further stated that the purported “criminal scheme” involved “international money wire system – of inflated, over-invoiced and above-market rate fees disguised as payment for ‘management service’”.

Dr Nduom, his wife Yvonne Nduom, their children, Nana Kweku Nduom, Edjah Nduom and Nana Aba Nduom in their official capacities in the business are all named as defendants in the suit.

“Plaintiff further alleges that Nduom family defendants dominate and control the Corporate Defendants and the related 60 or more companies, and in so doing, these entities commingle their funds and other assets and fail to segregate the funds of the separate entities. There is also the unauthorised diversion of corporate funds or assets to non-corporate uses”.

The plaintiff, Birim Group LLC further alleges that Groupe Nduom engaged in these illegalities for the “sole personal financial benefit of the Nduom family” and used his businesses as a conduit to “facilitate the unlawful acts”.

Reference was also made to the recent cleanup in Ghana’s financial sector where the plaintiff claims “a substantial portion of its [GN Bank] loans were illegally made to Nduom-related entities without the benefit of appropriate risk assessments, managements or determinants”.

“Groupe Nduom-GH (GN-GH) is wholly owned, dominated and controlled by Nduom and his family for the sole personal benefit of Nduom. Having failed to meet its regulator’s qualifying criteria, defendant GN-GH was initially downgraded and reclassified from a commercial banking house to a Savings and Loans Company.

“On or about August 16, 2019, its license was formally revoked by its regulator, the central Bank of Ghana”.

The plaintiff believes that the “manipulations and liabilities” among Groupe Nduom’s entities effectively resulted in the “diversion of assets from one business entity to the Nduom defendants and their other entities to the detriment of creditors and depositors”.

Among the many reliefs being sought, Birim Group LLC, acting as assignors, are asking for “treble compensatory damages, as well as, consequential, exemplary and punitive damages in an amount to be determined by trial.

They also want the court to order “disgorgement of all profits, benefits and other compensation obtained by defendants including all ill-gotten gains from their illegal and criminal activities.

Perseus Mining Limited (TSX & ASX: PRU) (www.PerseusMining.com) has released its CY20 Sustainable Development Report. The report details the company’s progress over the past 12 months in delivering on its commitment to responsible mining operations in Côte d’Ivoire and Ghana, including an overall economic benefit to host countries totalling about USD$385M.

As part of its longstanding commitment to the communities in which it operates, Perseus reported increasing community investment by 71% to around US$1.9M in CY20, funding critical health and education infrastructure projects for local communities. Additionally, Perseus announced it had increased its proportion of local procurement from 66% in CY19 to 78% in CY20, totalling US$287M, and further expanded its employment of local populations, with 96% of its current workforce local to Ghana and Côte d’Ivoire.

Jeff Quartermaine, Managing Director & CEO of Perseus said:

“Sustainability is deeply rooted in Perseus’s culture and operations and has had a large part to play in our resilience during this challenging year. We believe that responsible gold mining can play a key role in sustainable development, and that investing in our employees and our communities to create enduring social value will remain a guiding force in our growth path and future business operations. I am proud of my team’s effective response to the pandemic which successfully safeguarded our operations as well as our people, enabling us to deliver our Yaouré mine in Côte d’Ivoire this year ahead of schedule. Our approach to sustainability has continued to mature as our business has grown, and in the coming years we look forward to expanding our ESG offering and delivering greater impact across Côte d’Ivoire and Ghana.”

Jessica Volich, Group Sustainability Manager at Perseus said:

“Despite the challenges the past year has brought, Perseus’s sustainability agenda has continued to strengthen and evolve alongside its expanding operations. Our wide-ranging efforts and engagement with our local communities and host governments has enabled us to create shared sustainable value for all our stakeholders. We are committed to strengthening these relationships in the coming years as we endeavour to generate socio-economic value for our people, communities and host countries.”

In CY20, Perseus has enhanced its disclosure on sustainability-related risks and opportunities by aligning with the key reporting frameworks used by our stakeholders. These include the World Gold Council Responsible Gold Mining Principles, Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB) and the Task Force on Climate Related Financial Disclosures (TCFD).

Highlights of the report include:

Economic and Social Contribution

• Total economic contribution of US$385M in CY20 to Ghana and Côte d’Ivoire
• Increased community investment by 71% (from CY19) to around US$1.9M in CY20, funding critical health and education infrastructure projects for local communities and providing COVID-19 support
• Creation of new health clinics near Sissingué to improve health outcomes for the ~27,000 residents of the local communities
• Increased in-country employment, with over 96% of total employees from host countries
• Local procurement spend of $287M, an increase from 66% in CY19 to 78% in CY20
• Held 587 consultations with local communities
• Paid >US$69M in taxes, royalties, and duties to Government

Health & Safety performance:

• Maintained record of zero workplace fatalities and reduced injuries
• Implementation of comprehensive measures and protocols to prevent introduction and spread of COVID-19 and maintain business continuity

Environmental stewardship:

• Re-use of 12,495,163 KL of water
• Water intensity of 7.46M³/oz gold produced, benchmarked ahead of peers
• Enhanced tailings disclosures in line with the Investor Mining and Tailings Safety Initiative, and completed independent audits of all our Tailings Storage Facilities (TSFs)

Governance

• Worked with independent sustainability risk experts, KPMG, to refresh sustainability materiality analysis and conduct deeper analysis of sustainability risks and opportunities, and start development of a 3-year sustainability roadmap
• Announced appointment of a new Director by the end of FY21 to enhance sustainability skills of the Board
• Release of the first Modern Slavery Statement to address potential human rights risks in Perseus’ global supply chain

Future ambitions

• Establish a 3-year sustainability roadmap, and enhance social value and sustainability risk management through updates to the Risk Management Framework and policy standards
• Establish the Yaouré Community Development Fund in FY21
• During FY21 and FY22, Perseus will complete and commence implementation of our biodiversity plan at Yaouré in Côte d’Ivoire mine site in and establish our site nursery, to be staffed by local community members
• Explore strategic opportunities for community partnerships in Côte d’Ivoire and Ghana
• Achieve full alignment with the World Gold Council Responsible Gold Mining Principles by FY23