In an interview on Peace Fm on Friday 4 September 2020, Finance Minister Honorable Ken Offori-Atta affirmed that the New Patriotic Party (NPP) Akuffo-Addo government will not suspend Agyapa Mineral Royalties deal stock exchange list.
The opposition National Democratic Congress (NDC) party has firmly stood against the Agyapa Mineral Royalties deal, saying it’s in bad faith for Ghana’s benefit.
They base their argument that the deal rather will benefit a select few family members of president Nana Addo Dankwa Akuffo-Addo, the ‘family and friend’ saga.
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Also, the NDC alleges that the 49% unknown investors are the Akuffo-Addo’s family.
Agyapa Royalties Limited (ARL) will trade shares on the Ghana Stock Exchange and the London Stock Exchange for private people to buy.
But the Mineral Income Investment Fund will remain the majority shareholder. ARL will raise between $500 million and $750 for government to use for developmental initiatives, and then future resources from gold royalties will go to ARL shareholders instead of the Mineral Investment Fund and for that matter government. Essentially, government is mortgaging expected royalties from gold in exchange for about $500 million – $750 million from ARL.
READ ALSO: We Will Review The Scandalous Agyapa Mineral Royaties Deal If Win The Elections – NDC’s Jinapor
The minority claims the agreement makes it impossible for a future government to replace managers of Asaase Royalties Limited although the Minerals Income Investment Fund will remain the majority shareholder.
The Minority is also insisting the agreement is based on the amendment done to the Minerals Income Investment Fund Act a few weeks ago which though approved by parliament, has not been signed into law yet by the president. This they say is illegal.
Calling for a no deal on the Agyapa Mineral Royalties deal, the Finance Minister says the government will rather go for the it.
