The Minority in Parliament has threatened to take the fight against the controversial Agyapa Royalties deal to the London Stock Exchange.
According to the minority, it is unconvinced about the deal, stating that, 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 noted.
The minority further indicated that it is certain that “this agreement is tainted with some corrupt acts.”
However, the government says leveraging the country’s mineral resource in exchange for development is a step in the right direction and in Ghana’s best interest.
But according to the minority, the deal is clothed in secrecy and does not have the interest of Ghana at heart and has therefore disassociated itself from the agreement.
“The Minority wish to state emphatically that the SPV and its accompanying agreements as structured by the current Government is not just opaque but inimical to the interest of the Republic of Ghana. We therefore wish to completely disassociate ourselves with the proposed relationship agreement and subsequent flotation of shares on the London Stock Exchange”, the minority noted.
The minority also called for an independent probe into the estimates of the right of royalties in the Agyapa deal.