[ 2021-03-10 ]

Government will engage Parliament about Agyapa deal – Akufo-Addo
President Akufo-Addo says government will come
back to engage Parliament on the steps it intends
to take on the future of the Agyapa transaction.

Delivering his State of the Nation (SONA) Tuesday,
he hinted that the controversial deal that failed
to see the light of day in the 7th Parliament will
be resurrected in the 8th Parliament.

The Agyapa Royalties deal generated so much
interest from several quarters because of the
alleged controversies of conflict of interest,
amongst others.

Some 15 Civil Society Organizations (CSOs) under
the umbrella name Alliance of CSOs working on
Extractive, Anti-Corruption and Good Governance
also demanded the immediate suspension of the
implementation of the controversial Special
Purpose Vehicle, Agyapa Royalties Limited
established by government though the Minerals
Income Investment Fund.



Former Special Prosecutor, Martin Amidu’s
Corruption Risk Assessment on Agyapa deal also
raised red flags over the deal, describing the
deal as fraught with corruption.

In November 2020, the President directed then
Finance Minister, Ken Ofori-Atta to send the deal
back to Parliament after the Assessment.

Office of the Special Prosecutor.

The Special Prosecutor in a statement issued
Monday morning [November 2, 2020] announced that
he had completed the corruption risk assessment
about two weeks ago and submitted his report to
the presidency.

Background

On August 14, 2020, Parliament approved the Agyapa
Minerals Royalties Investment Agreement and four
related documents to allow for the monetisation of
Ghana’s future gold royalties.

Under the agreement, Agyapa Mineral Royalties
Limited has been incorporated in Jersey near UK to
receive and manage royalties from 16 gold mining
leases over the next 15 years or so.

In exchange, the firm will list on the London and
Ghana Stock Exchanges later this year and raise at
least $500 million for government to invest in
infrastructure, health and education.

The listing will allow private people to buy a 49
per cent stake in the firm.

However, some 22 civil society organisations
called for a suspension of the deal, insisting it
was not in the interest of Ghana.

Source - Joyfm

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