24
Thu, Sep

agyapa deal

  • A number of concerns raised by the CSOs included registration of the entity in a tax haven, transparency, how the values were arrived at and what the country stood to benefit from the Agyapa Royalty transaction.

    The Ministry of Finance has debunked claims that the Agyapa Royalties transaction has been suspended.

  • Hence those who seek to dismiss into insignificance blows to transparency in establishing Agyapa in a tax haven may want to revise their notes.

    Yesterday, I took off sometime to listen to discussions on JoyFM’s Newsfile show on the ongoing Agyapa Royalties transaction the Government of Ghana is seeking to undertake. Interesting to me however was how one of the concerns of the CSOs was cursorily tossed off the discussions. This regards the matter of Beneficial Ownership. In his queries, the host, Sampson Lardi Anyenini, questioned Imani’s Bright Simons on any proof they had of Beneficial Ownership. He wanted to know this because the Deputy Finance Minister, Adu Boahene, who was also on the show, explained that the Government of Ghana was going to be 100% shareholder of Agyapa, following which 49% shares will be shed off in an IPO on a UK exchange to raise an amount of $500million; where shares could be purchased by interested investors.

  • According to the group, the police are acting in bad faith given the formal and orderly procedures ASEPA followed ahead of the programme.

    The Alliance for Social Equity and Public Accountability (ASEPA) says it is disappointed in the police for going to the extent of obtaining a court order to stop them from demonstrating against the controversial Agyapa mineral royalties deal.

  • The Agreements seek to mortgage Ghana’s future mineral royalties and long term national assets in perpetuity without any regard to its implication on future national revenue streams. Through this transaction, the Akufo Addo government intends to ...

    Minority Leader, Haruna Iddrisu: Good Morning. Thank you for responding to our call, once again, at such short notice.

  • So, is the whole transaction a sweetheart deal or not? The answer centers on the equation.

    Regarding the current raging controversy over the Government of Ghana’s intent to allocate all future royalties tied to mining leases that produce virtually all of Ghana’s gold, i.e. the two Agyapa Royalty Special Purpose Vehicles, I’m not sure I’m going to be writing a lot about the subject given my current schedule.

  • In a letter of September 10, 2020, addressed to the clerk of Parliament, the Special Prosecutor said the investigation was in line with his office’s mandate to exercise the functions and powers of the prevention of corruption.

    The Special Prosecutor, Mr Martin A.B.K. Amidu, has begun investigations into the Agyapa Mineral Royalties transaction.

  • Equity has been around for far too long for us not to understand its benefits. If we use equity to develop our resources:

    Capital is needed for development. From time immemorial Ghana has sought to borrow this capital. We have been raising bonds, taking loans and giving sovereign guarantees. All these raise our debt to income ratio. As a country, the more we borrow, the more we increase our debt to income ratio, the worse our credit rating becomes and the higher the interest rates we get when we go back to borrow more.

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