Gov’t disregarded GHEITI, CSOs, and Chiefs of mining communities in Agyapa deal…. 17 CSOs call for its suspension
Adnan Adams Mohammed
Government of Ghana have been accused of deliberately disregarding
and sidelining the Ghana Extractive Industry Transparency Initiative (GHEITI),
watchdogs in extractive governance (Civil Society Organizations, Media),
Traditional authorities and the citizens of mining communities (whose resources
the President is holding in trust for them) in the recent controversial deal it
has signed with Agyapa Royalties Ghana.
The deal which involves the monetization of the country’s
mineral income accruing to the country which gives Agyapa Royalties Limited,
the right to secure about US$1 billion to enable government finance unknown
infrastructural projects. The Alliance of CSOs working on Extractive,
Anti-Corruption and Good Governance is thereby calling for the immediate
suspension of the controversial Agyapa Royalties Limited agreement with the
government of Ghana.
The CSOs wants the beneficial ownership of the Special
Purpose Vehicle and Agyapa Minerals Royalties be made public or the
implementation of the deal should be deferred. Parliament last week, in line
with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978) approved the
agreements under ‘certificate of emergency’ to allow the country to derive
maximum value from its mineral resources and monetise its mineral income
accruing to the country in a sustainable and responsible manner.
“The deal is not transparent and places Agyapa Royalties
above the country’s tax laws”, Dr Steve Manteaw, Chairman of the Alliance of
CSOs working on Extractive, Anti-Corruption and Good Governance expressed worry
at a press conference on Tuesday, 25 August 2020.
He added, “The recent amendment of the Minerals Income
Investment Fund creates more suspicion. The rushed amendment and inserting
worrying clauses including clauses that leaves a special purpose vehicle;
Agyapa Royalties above Ghanaian tax laws, outweighs Ghana’s immunity and by
that, expose Ghana to the risk of damaging lawsuits should any future
government seek to reverse this transaction.”
“What we find even more repulsive about this whole
transaction is the provision that permits Agyapa Royalties, a supposed company
of the sovereign state, to register in tax payments to borrow money or raise
equity in foreign currency from any source on the back of the gold royalties of
Ghanaians without the requirement of any further approval, consent and
administrative Act of the Government of Ghana. This provision takes Agyapa
Royalties away from parliamentary oversight and control”, he added.
Already, the deal has been criticised by many who described
it as a way of mortgaging Ghana’s mineral resources. The Minority in Parliament
staged a walkout on the passage of the agreement while the National Democratic
Congress (NDC) flagbearer, John Mahama has said the architects of the Agyapa
Royalties deal are cronies of President Nana Akufo-Addo and hinted at
cancelling the agreement should he win the 7 December 2020 polls.
“If I become president, I will not accept that deal”, he
threatened. According to him, “the people of Ghana do not accept that deal”
since, in his view, “it is against the money laundering rules”.
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