Government must tell us that it has stopped pursuing Agyapa – Bright Simons

Vice President of IMANI Africa, Bright Simons is seeking clarity on the government’s stance regarding the future of the controversial Agyapa Deal.

This follows revelations that the government expended $12 million on the suspended royalties deal, which ultimately did not materialize.

President Akufo-Addo had ordered the suspension of the Agyapa deal in 2021 amidst public outcry.

The deal, intended to raise funds through mineral royalties for critical infrastructure projects, faced opposition from the National Democratic Congress (NDC) and several civil society organisations.

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.

Speaking on JoyNews’ Newsfile on Saturday, Mr. Simons emphasised the importance of a transparent government decision regarding whether to reconsider the arrangement which he says could have placed the country's future in jeopardy.

"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 IMANI Vice President called for clarity on whether the government intends to revisit 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 on JoyNews.

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