Finance Minister Ken Ofori- Atta, has assured that government will publish details of the Agyapa Royalties agreement to broaden the public’s understanding of the deal.
Speaking on Joy FM’s Newsfile on Saturday, September 5, Ken Ofori-Atta said “the issue of transparency, the valuation, tax haven and all of those little things that people need to know, I pray that we have done justice”.
Addressing concerns on whether the government can publish a 30-year cash flow projections based on the Agyapa module compared with the already existing royalties’ arrangement over the same 30-year period, he answered in the affirmative.
“That is welcomed. There is nothing that we cannot or should not do and really in the end after three, four, five years it is all projections. Yes, we can. So we can do that. I can tell my guys to start on it.”
He further indicated that government will not pause the deal in the face of all the controversies.
“No, we are not. I think this is a good transaction. I think the issues that have been raised have put light on them. This is an incredible opportunity, the highest gold prices in the world.”
Ghana’s legislature approved the controversial Agyapa Mineral Royalty Limited agreement Friday, August 14,2020 despite a protest from the Minority.
Based on the agreement, 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(MIIF) will remain the majority shareholder.
The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has also questioned the deal and said he will not recognize it in case he wins this year’s polls.
A group of CSOs led by Dr. Steve Manteaw, Chairman of the Civil Society Platform on Oil and Gas, noted that the government of Ghana and Parliament rushed in approving the controversial Agyapa Royalties agreement.
Ghanaweb
