Agyapa Deal Is Genuine, Not A Scam.

Prepared columnist, Abdul Malik Baako has hopped into the political conflict over the generally hawked Agyapa Minerals Royalties bargain.

Agyapa Minerals Royalties bargain

On Friday, August 14, 2020, Parliament endorsed five arrangements to allow Ghana to increase greatest incentive from its mineral assets.

The arrangements were likewise to permit the nation adapt its mineral pay as per the Minerals Income Investment Fund (MIIF) Act of 2018 (Act 978) with the Act engaging Agyapa Royalties Limited, a Special Purpose Vehicle, to make sure about $1 billion.

The cash is planned to be utilized to fund infrastructural ventures in the nation.

As indicated by the arrangement, Agyapa Royalties Limited will work as a free private element and raise assets from the capital market from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE).

Discussions

In any case, the arrangement has been hit by debates as the resistance National Democratic Congress (NDC) and the Minority in Parliament have communicated contradicting sees and eagerly restricted the arrangement.

Initially, there are warmed contentions about the contribution of the Senior Minister’s child, Kofi Bosompem Osafo-Maafo and Gabby Otchere-Darko, a relative of the Finance Minister and the President of Ghana; as handlers of the arrangement.

Besides, the Minority has raised issues with the provisions of the arrangement.

The Minority Leader, Haruna Iddrisu talking at a press preparation on Tuesday, September 1, 2020 contended that “the Minister of Finance in introducing this arrangement is in break and an away from of the law and is needed to have detailed this arrangement with total honesty in his 2020 Supplementary financial plan to Parliament. Our position is that no future NDC government will respect the particulars of this Agyapa Royalties Transaction”.

Some Civil Society Organizations (CSOs) have likewise protested the Agyapa Royalties bargain in light of the fact that, to them, except if the administration represents some Ghc1.5 billion oil cash; it has no privilege to hold such minerals exchange.

“There are immense straightforwardness gives that should be tended to. A legislature that is requesting that we surrender our sovereignties from mineral assets for advances so as to create nation however has not had the option to represent Ghc1.5 billion from the Oil Fund we gave them since 2017. We don’t have the foggiest idea what that sum has been utilized for, they continue revealing to us that the cash is there however when we request proof, they neglect to deliver it”, previous Chairman of the Public Interest and Accountability Committee (PIAC), Dr Steve Manteaw said in a meeting on Okay FM’s morning show ‘Ade Akye Abia’.

Monstrous Noises

To Kweku Baako, every one of these complaints are only clamors.

Addressing host Kwami Sefa Kayi on Peace FM’s ‘Kokrokoo’, Mr. Baako said he sees nothing amiss with the arrangement worrying there was a “solid joint effort, comprehension and participation” between previous Attorney General of the recent Mills/Mahama system, the Ministry of Finance and the exchange consultants of the arrangement when the cycle started.

He expressed that the previous Attorney General even offered a few advices to manage the arrangement thus asked why the NDC and Minority would now pivot to restrict the arrangement when the AG, before the NDC government was removed from power, was effectively associated with the primer conversations to supporting the arrangement.

“There was a sound joint effort, comprehension and participation and individuals taking the Attorney General’s guidance everything being equal so as to push forward that cycle.”

Mr. Baako further approached the connivance scholars to quiet on the arrangement worrying there is no irreconcilable situation, especially with the arrangement of the Senior Minister’s child and Gabby Otchere-Darko to deal with the arrangement.

“The commotion is excessively yet we decided in favor of it. We decided in favor of making a space where the clamor can be obliged anyway terrible.

“What I find astounding about that entire thing is it caused me to understand that the observation or on the off chance that you like fear inspired notion this is an endeavor by the administration to create some trick and toss it there for individuals just to expend isn’t truly reasonable,” he expressed.