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The government appears to have softened its stance on the controversial Agyapa royalty deal.
This is the result of a meeting between the Ministry of Finance and some civil society organizations in the country where the government is said to have expressed its willingness to involve interested parties to inform its decision on the transaction.
This is due to minority agitation in Parliament who have demanded the withdrawal of the contract with Agyapa Mineral Royalties Limited for what they believe is an opaque attempt by the NPP-led administration to divert public funds for their parish interest.
The new agreement is expected to allow the country to use a special purpose vehicle (SPV), Agyapa Royalties Limited, to secure around $ 1 billion to finance infrastructure projects.
The NDC, among other concerns, has maintained that mineral royalties have been undervalued in the deal and called for an independent investigation.
Some 15 CSOs at a press conference on August 25 also expressed concern about what they describe as a lack of openness and transparency that has characterized the transaction, a position that the government has vehemently justified in recent weeks.
But in an interview with JoyNews After the September 2 meeting, energy analyst Samuel Bekoe said the finance minister clarified some of the technicalities surrounding the transaction that need to be studied to inform the next CSO directive.
“He [Finance Minister] He said the initial appraisal was a company registration requirement that auditors would require of him. So it will not be an independent contest that when a company is registered you can put any figure there.
“So it was a matter of international standards that they had followed. They were hoping that when gold prices stayed the same and hit the market, there would be some roadshows where they would hear more about the willingness of buyers to know what the company is really worth, ”said the energy analyst. he told Evans Mensah.
However, he revealed that the Minister of Finance is willing to consult a wider range of stakeholders to reach a conclusion that may be of interest to all Ghanaians.
“The minister had also indicated that he believes it is the best window because of the gold prices and therefore he is now divided between more inquiries and the opportunity that gold prices have presented him,” Bekoe said.
He added that they are open to helping the government if necessary.
The funds for the deal, which are expected to be sourced from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE), will be long-term capital, with no corresponding increase in total Ghana debt.
