Alliance of CSOs reiterate calls for suspension of Agyapa deal

The Alliance of Civil Society Groups (CSOs) has reiterated calls for the suspension of the controversial Agyapa Deal.

Addressing a press conference at the Swiss Spirit Hotel in Accra, spokesperson for the group, Dr. Steve Manteaw said the “government must suspend the deal for national dialogue”.

The government passed the Mineral Income Investment Fund (MIIF) Act, 2018 (Act 978) with the aim of maximizing the country’s mineral wealth for the benefit of the Ghanaian citizenry whiles ensuring that royalties from gold mining companies were sustainable.

The law was subsequently amended to enable it to incorporate subsidiaries and use it as a Special Purpose Vehicle (SPV) to do business across the world.

The SPV, which is the Agyapa Royalties Ltd, has been incorporated in a British channel island, Jersey, where it will enjoy tax reliefs on transfer of dividends and other concessions that allow it to retain much of the income it generates.

However, the Alliance of CSOs has kicked against the deal asking the government to provide all documents relating to its establishment and its owners to ensure transparency.

But the government, through the Public Relations Unit of the Ministry of Finance, has served notice that it will broaden consultations in the Agyapa Royalties Transaction.

This the government believes will help “to fill any communication gap in the Agyapa Royalties Transaction”.


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