General Politics

Report Agyapa deal to London Stock Exchange – NPP calls Minority’s bluff

Chairman of the Minerals Income Investment Fund has dared the minority to report the Agyapa Royalties deal to the authorities at the London Stock Exchange if they suspect any mishaps in the controversial arrangement.

George Mireku Duker opined that it is a trend adopted by the opposition National Democratic Congress to ensure that all transactions initiated by the government do not see the light of day.

The agreement between the Agyapa Royalties Limited and government is expected to streamline the investment and utilisation of the country’s mineral royalties and channeled in the development of critical areas of education, health, housing and infrastructure.

A cross section of the general public and some civil society organisations have raised concerns about the company which was incorporated in Jersey, a tax haven with the minority threatening to abrogate the deal if it assumed office in the December elections.

Ranking Member on Parliament’s Finance Committee Cassiel Ato Forson has recently threatened to write to the Financial Conduct Authority and the London Stock Exchange over the controversial deal.

“We are not petitioning them. We are putting them on notice that we the members of the minority believe that thus deal is not in a transparent manner. We believe that there are things this administration is hiding from us… We believe the value has been understated,” he said.

But the Member of Parliament for Tarkwa-Nsuaem, Mireku Duker is calling his bluff explaining that “NDC will continue ranting this way and wouldn’t want Ghana to succeed in any deal.”

“NDC wrote letters in the Sinohydro Deal, they walked out of parliament during the NHIS and I’m reassuring Ghanaians that we have nothing to hide,” Mr Duker said.

The new agreement will enable the country to use a Special Purpose Vehicle (SPV), Agyapa Royalties Limited, to secure about $1 billion to finance infrastructural projects.

Describing the deal as a fair one, the MP told JoyNews the deal is transparent and will accelerate the development of Ghana.

“It is something that is really going to propel the engine of growth for this country. It is something that we need to support wholeheartedly,” he added.

The agreement said to be in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978), was passed without support from the Minority in Parliament.

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