Updated: Sep 8, 2020
Gabby Asare Otchere-Darko, very influencial personality in the Akufo-Addo led government and a relative of President, has stated Ghana has no risk in the controversial Agyapa Minerals Royalties at all.
“There isn’t a royalty company listed that is losing money. Because it is gold, your risk is low,” he said on Good Evening Ghana monitored by Adans3fm.com.
Speaking to Paul Adom-Otchere on Good Evening Ghana, the founder of Danquah Institute explained that when looking at the benefits of deal, there is no doubt that Ghana stands as the greatest beneficiary.
“When you invest in royalties, you take at source. We have a president that said he wants to add value to the natural resources, that has been his dream,” the President's newphew stated.
Agyapa Minerals Royalties deal
Parliament of Ghana on Friday, August 14, 2020, approved five agreements that allow the country to derive maximum value from its mineral resources and monetize its mineral income sustainably and responsibly, in line with the Minerals Income Investment Fund (MIIF) Act of 2018 (Act 978).
The act enables the country to use Agyapa Royalties Limited, a Special Purpose Vehicle, as a conduit for securing about $1 billion to finance large infrastructural projects.
In line with that, Agyapa, which will operate as an independent private sector entity, will be able to raise funds from the capital market, both locally and internationally, as an alternative to the conventional debt capital market transactions.
The funds are expected to be raised from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE).