Agyapa deal suspended

The suspension is to allow government make further consultations on the deal

Agyapa deal suspended

The arrangement between the government of Ghana and a Special Purpose Vehicle (SPV) company, Agyapa Royalties Limited has been suspended.

This was disclosed by te Technical Manager for the Public Interest and the Accountability Committee (PIAC) Mr Mark Agyemang.

According to him, the deal has been temporarily halted to allow broader consultations and address concerns raised by several Civil Society Organisations regarding the deal.

Mr Agyemang in a report by Starrfm, stated that the deal was suspended after a meeting with the Finance Minister on Wednesday. He adds that the deal will be implemented but it is only on hold for now for more deliberations.

A lot of concern has been raised about the Agyapa Royalty deal by a section of the public including the Minority in Parliament who have questioned the credibility of the agreement. They have also called for a withdrawal of the deal.

The opposition National Democratic Congress (NDC) has threatened to abrogate the deal, if they are voted into power.

Flagbearer of the NDC, John Dramani Mahama, has stressed that an NDC government will not respect the Agyapa Mineral Royalties agreement.

 

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Addressing the chiefs and people of Kaleo, as part of his tour of the Upper West Region, Mr. Mahama said the attempt by government spokespersons to justify the Agyapa deal in the name of a 2011 proposed Ghana Gold Company is both inaccurate and disingenuous.

He said the proposed company was 100% was intended to be owned by  government and the people of Ghana, adding that it had no planned secret beneficial owners.

According to Mr Mahama, the Agyapa deal is shrouded in secrecy, its beneficial owners are unknown, and it seeks to “monetise Ghana’s gold royalties for the next 15 years and even in perpetuity without the consent of the people of Ghana”.

The NDC flagbearer said government should back down from signing the deal because “we will do everything legitimately in our power to oppose the agreement and make sure it doesn’t happen”.