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Civil society organizations (CSOs) have accused the government of manipulating Ghana’s annual gold royalty figures in an attempt to justify the Agyapa Minerals deal.
At a press conference in Accra on Tuesday, they accused the government of failing to report the country’s earnings from gold royalties and restricting access to information about the deal that was communicated to them.
They claim that the government reported that Ghana’s gold royalties last year were $ 123 million during a meeting with CSOs when the actual figure according to them is $ 200 million.
Dr. Steve Manteaw, speaking on behalf of the 22 CSOs, said: “So far we have been limited in our analysis of this transaction by our inability to access the full set of data and assumptions used in the government’s valuation of royalties. that are traded.
“In our last meeting with the Ministry, some slides were presented with some data. However, when we requested copies, those particular slides we are interested in were deliberately or inadvertently omitted.
“The interesting thing to appreciate for citizens is that through the communication of the government it is evident that either it is not paying attention to the income streams of the sector, or it is deliberately undervaluing assets for unknown reasons.
“When the Deputy Finance Minister was asked a direct question about the amount of royalties received from gold in 2019, he said that Ghana received about ¢ 650 million ($ 123 million).
“The truth is that Ghana received ¢ 1.06 billion ($ 200 million) from the big companies of the Chamber of Mines alone. The government has data on the other receipts, but decided not to report the numbers.
“Again, in our meeting with the Ministry of Finance, they gave us semi-annual receipts for 2019 for $ 72 million (¢ 366 million). The underreporting of 2019 revenue, which is the most significant period for revenue projection and the emphasis on the old royalty figures, is intriguing, ”added Dr. Manteaw.
But Sekondi New Patriotic Party (NPP) ruling deputy Andrew Agyapa Mercer said the $ 123 million figure represents just royalties from the 16 mining leases that are part of the Agyapa Minerals Royalty deal.
“It is regrettable that agreements of this nature are made without supporting them with facts. They are accusing the government of a serious crime, ”he said.
