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Adom TV’s Broadcast Journalist, Akwasi Nsiah, has called on the government to, as matter of urgency, revisit the Agyapa Royalties deal to help stabilise the economy.

He said, this will be the best option for the country rather than resorting to borrowing from the International Monetary Fund.

Government in October last year disclosed its intention to re-submit a restructured Agyapa Royalties Agreement to Parliament for approval.

Finance Minister, Ken Ofori-Atta, at the inauguration of a newly appointed Board of Minerals Income Investment Fund in Accra on Tuesday, October 12, 2021, stated that the deal has been repackaged to inure to the benefit of the state.

Meanwhile, the Minority in Parliament has said it will oppose the Agyapa Royalties Agreement should it resurface in Parliament.

Agyapa deal

On August 14, 2020, Parliament approved the Agyapa Minerals Royalties Investment Agreement and four related documents to monetise Ghana’s future gold royalties.

Under the agreement, Agyapa Mineral Royalties Limited has been incorporated in Jersey near the 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 (GSE) 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 is not in the interest of Ghana.

Speaking on Badwam on Adom TV, Akwasi Nsiah lamented that Ghana cannot be borrowing every time while the country has royalties it can leverage for equally same amount or even more.

He, therefore, called for a non-partisan approach to help rid of all encumbrances to help pave way for the full actualisation of the Agyapa deal.