Government to submit a restructured Agyapa Royalties Deal to parliament – Ken Ofori-Atta

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Finance Minister, Ken Ofori Atta has disclosed government’s plan to lay before parliament a restructured Agyapa Minerals Royalties Agreement for approval.

This was revealed by the Minister on Tuesday, October 12, 2021 when he inaugurated the Board of the Mineral Income Investment Fund in Accra.

According to the Finance Minister, the Attorney-General has already reviewed a restructured deal and repackaged it to inure to the benefit of the state.

“The Attorney-General has looked at it and we have had a few stakeholder meetings and I think the new board should be energized to review that and then go through the Parliamentary process,” he said.

The controversial deal, was approved by Parliament but was withdrawn by government following a Corruption Risk assessment by the former Special Prosecutor, Martin Amidu.

The Corruption Risk Assessment revealed that there was reasonable suspicion of bid-rigging and corruption activity in the selection process of the deal. It was also discovered that the transaction was embroiled in infractions regarding relationships and conflict of interest.

The newly inaugurated board has been tasked with the sole objective of getting the deal operational.

“I’m unequivocal that it is the way to go in terms of monetizing our minerals and finding a way to leverage it to reduce the level of debt of the country and move it into equity. And with the concerns that were raised we should be able to address them and move forward,” Mr Ofori-Atta added.

 

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