The Agyapa Royalties transaction meant to monetize some of Ghana’s gold royalties has been described as one of the excellent arrangements with the greatest potential for advancing the country’s socio-economic and infrastructural development.
According to the Concerned Voters Movement (CVM), the deal has been created by the Akufo-Addo government with good and genuine intentions to leverage the minerals royalties for the overall benefit of the country.
“The decision of President Akufo-Addo of sending the Agyapa Royalties back to Parliament, considering the hung Parliament (137 NPP: 137 NDC: 1 Independent) clearly demonstrates that the NPP government wants the best ever deal for the Agyapa Royalties, and we need to commend President Akufo-Addo for such a laudable bold decision,” CVM said in a statement signed by its founder and president, Razak Kojo Opoku.
It noted that “the decision of the government to list the Agyapa Royalties on the stock market was aimed at raising revenue for national development, and it was never for the personal benefit of family members of Akufo-Addo as diabolically and mischievously alleged by members of the National Democratic Congress (NDC) and some Civil Society Organisations (CSOs).”
The transaction was met with opposition from the NDC side and some CSOs when it first came to the public domain. The government subsequently embarked on further consultation on the transaction. The government, through the Ministry of Finance, engaged some CSOs to listen to their views on the transaction.
Also, in accordance with the advice of the former Special Prosecutor, Martin Amidu, the government referred the Agyapa Royalties deal to the seventh Parliament for proper scrutiny, value for money audit, transparency and accountability. The transaction advisor, Databank, also withdrew its services due to the unjustifiable attacks on the firm and the Minister of Finance-designate, Ken Ofori-Atta, by members of the NDC and some CSOs.
During the presentation of his first State of the Nation Address in his second term, President Akufo-Addo disclosed that the transaction would be sent to the eighth Parliament for further deliberations, scrutiny and consideration.
According to CVM, the re-submission of the transaction to new Parliament is very appropriate and in the best interest of the country.
It explained that this would help the country to achieve a national consensus building for the deal; clear all doubts, and achieve maximum transparency satisfactory to all Ghanaians; cure the propaganda spearheaded by members of NDC and pro-NDC CSOs; and secure a better deal for the collective benefits of all Ghanaians.
Other benefits include building public confidence in the deal; ensuring further scrutiny and probity and enacting proper nationalistic laws to regulate the transaction.
“Agyapa Royalties deal is an excellent deal with the greatest potential of changing the fortunes of the socio-economic architecture of the country, and it is very essential that all of us support the Agyapa deal,” it added.