Focus on the prospects of the agreement during the debate – Kyei-Mensah-Bonsu

Osei Kyei Mensah Bonsu is Minister of Parliamentary Affairs and Majority Leader in Parliament

Osei Kyei-Mensah-Bonsu, Minister of Parliamentary Affairs and majority leader in Parliament, said all the many criticisms leveled against the Agyapa royalty deal were irrelevant.

He explained that the prospects for the deal for the country are what should be of concern.

“For now, because we have already adopted it, it is something that has been concluded. If the president says that because of public sentiment this thing is canceled and I have to repackage it and send it to Parliament, then we go on board to probe, we will question, and as far as it helps us in as Ghanaians. for me that will be the best way to go.

“Other than that it’s about who owns it and who has done what, and as far as I’m concerned, that doesn’t affect the dividends that should be paid in Ghana. The question should be, have we done enough studies to come up with $ 200 million each year? This is where we should be leading the debate, ”he said in an interview with Citi News, citinewsroom.com reports.

Minority lawmakers criticized Agyapa’s royalty agreement after the Osei Kyei-Mensah-Bonsu made hints when reading the 2021 budget.

They explained that the agreement remains a bad attempt by the government to inappropriately use the country’s resources and which would not serve the interests of the people if passed.

Already, they have indicated that if the deal comes back to Parliament without any appropriate changes, they will oppose it.

About the Agyapa offer

In 2018, Parliament passed the Minerals Income Investment Fund Act 2018, which establishes the fund to manage Ghana’s stakes in mining companies and receive royalties on behalf of the government. The purpose of the Fund is to manage and invest these royalties and equity income for higher returns for the benefit of the country.

The government then created, through the Minerals Income Investments Fund (MIIF), Agyapa Royalties Ltd to monetize Ghana’s gold royalties. This was after Parliament approved the Agyapa Mineral Royalty Ltd deal on behalf of the government of Ghana on August 14, 2020, despite the withdrawal of minority members from the House.

In return, the company plans to raise between $ 500 million and around $ 1 billion for the government on the Ghana and London stock exchanges to invest in development projects. However, the deal has become a hot topic of debate after concerns expressed first by the opposition Democratic National Congress, ahead of the December 2020 general election.