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Agyapa Royalties deal not suspended – Finance Ministry

The Ministry of Finance has dismissed claims that the controversial Agyapa deal has been suspended.

The Technical Manager at Public Interest and Accountability Committee (PIAC), Mr. Mark Agyemang had said that government would surely put on hold the controversial Agyapa Royalties deal for further consultations to take place.

This, according to him, came up in an adhoc meeting on Wednesday, September 2, 2020 between the CSOs and the Finance Minister.

Confirming the decision by government in an interview, Mr Agyemang said he’s much convinced that government will carry on with the transaction, albeit rather cautiously as a result of the controversy greeted with the deal.

“The Minister has agreed to put on hold the deal and start a consultative process to digest the deal with the relevant stakeholders. We understand from the standpoint of the government that the deal will come on by all means, however, they’ve reasoned with the CSOs and Ghanaians at large to pull the brakes for now on the deal and do an extensive consultation,” he told host Bonohene Baffuor Awuah.

But the Ministry in a statement, however, denied this claim insisting the said meeting never tabled for discussion suspension of the deal.

“The Ministry wishes to state that, the Agyapa Royalties transaction has not been suspended as is being reported on the Ghanaweb portal. We wish to also state that Mr. Mark Agyemang, Technical Manager of the Public Interest and Accountability Committee, who is purported to have said this in an interview with Starr FM, was not in this meeting,” the Ministry’s statement said.

The Ministry explained that the government and the CSOs only deliberated on issues relating to transparency and engagement over the deal at the said meeting.

“The meeting with the CSOs was one such consultation and the Ministry agreed with them to further broaden the consultations and to solicit further input from them and other Ghanaian constituencies going forward,” the statement added.

Meanwhile, the Minority has threatened to take the fight against the controversial Agyapa Royalties deal to the London Stock Exchange.

According to the minority, the Agyapa deal is clouded with lack of transparency.

“We will today [Tuesday] put the London Stock Exchange and the Financial Conduct Authority on notice that this agreement does not meet the minimum requirement of diligence and transparency and minimum requirements of our constitution,” Mr. Iddrisu stated.

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