The government should inform the public that it has ceased pursuing the Agyapa deal, Bright Simons

Bright Simons, the Vice President of IMANI Africa, is calling for transparency regarding the government’s position on the fate of the contentious Agyapa Deal. This comes after it was disclosed that the government spent $12 million on the suspended royalties deal, which ultimately did not come to fruition. President Akufo-Addo had ordered the suspension of the Agyapa deal

in 2021 in response to public outcry.

The agreement, aimed at generating funds for essential infrastructure projects through mineral royalties, encountered resistance from the National Democratic Congress (NDC) and various civil society organizations.

The suspension was further reinforced by the Special Prosecutor’s corruption risk assessment report, which strongly advised against pursuing the deal due to its high potential for inducing corruption.

During an appearance on JoyNews’ Newsfile on Saturday, Mr. Simons underscored the significance of a clear and transparent government decision on whether to reconsider the arrangement. He expressed concern that the suspended deal could have jeopardized the country’s future.

“Why on God’s good earth, will we have gone to the stock market, taken $500 million put our resources, and stacked it somewhere in Jersey, under the control of directors that none of us have ever been introduced to just for $500 million and them claim that the 51% that we own will appreciate when other streaming companies have not shown that appreciation, and therefore the likelihood that we’ll even have got dividends ever was very threatened. Why would we have done that? That is the point,” he said.

The Vice President of IMANI urged the government to provide clarity on whether it plans to reassess the Agyapa Deal or if it has definitively abandoned the idea.

“The issue is not just about the $12 million spent, we think three times more will be spent if this process continues to the end because you have to now pay underwriters and investment bankers. And for that reason, and given the fact that we think it’s incredibly bad, the government must formally tell us they’ve stopped pursuing Agyapa.”

But Director of Communication for the New Patriotic Party (NPP), Richard Ahiagbah says the was nothing untoward about the move.

“There is nothing criminal about it and that is why I say Bright Simon’s position is conjecture. Because you are trying to impugn motive on something that has not happened,” he said.

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Source/Joynews/Ghanan/Accralive.com/Ebenezer Junior Arthur.