[ 2021-03-11 ]

Agyapa deal should be considered dead on arrival in Parliament – John Jinapor
The Yapei-Kusawgu MP, John Abdulai Jinapor has
reiterated that the National Democratic Congress
(NDC) MPs will resist any attempt to reintroduce
the controversial Agyapa Minerals Royalties deal
in Parliament.

Although the deal has now been suspended,
President Akufo-Addo while delivering his State of
the Nation (SONA) Tuesday, hinted that the deal
that failed to see the light of day in the 7th
Parliament will be resurrected in the 8th
Parliament.

He explained that government will come back to
engage Parliament on the steps it intends to take
on the future of the Agyapa transaction.

However, speaking on Joy FM’s Super Morning Show
Wednesday, Mr Jinapor said government should
consider the deal dead on arrival if critical
modification has not been made to the
transaction.

Describing the initial deal as opaque and
questionable, the former Deputy Energy Minister
said it needs to be shelved.

“The level of opacity with that agreement and
the attempt to rush it through within 24 hours,
despite all the issues we [NDC] have raised, gives
cause for concern.

“[That is why] it should be considered dead on
arrival from our side. We don’t have to go
through the whole process again. This whole Agyapa
thing should be shelved,” he told Joy FM’s
host Winston Amoah.



Mr Jinapor, however, suggested that all relevant
stakeholders must be involved in restructuring the
transaction for the nation and its citizens to
enjoy its full benefits.

“If we want to deal with our Mineral Royalties
and income, we can have a bipartisan discussion
and come to a conclusion,” he said.

Speaking on the same issue, the Deputy Majority
Leader, Alexander Kwamina Afenyo-Markin accused
the NDC MPs of politicizing the deal.

In his view, the transaction would have benefited
the country immensely if the Minority in
Parliament had not politicked it.

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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