The President’s Representative to the Finance Ministry, Charles Adu Boahen says a revised Agyapa Royal Mineral deal will be submitted to Cabinet for reconsideration.
This revised deal, he said, has incorporated changes based on all the concerns raised about the Agyapa Royalties.
“We have listened to the people, we have made the amendments to the documentation and as the President has instructed, it will go back to the A-G (Attorney-General).
“The A-G is supposed to review the transaction and the documents and then we come back to Cabinet where they will take another look at it. And then if they are comfortable with the new structure and feel it addresses all their concerns, we will then go back into Parliament most likely for their blessing,” he stated.
“There was a concern about the royalties that were accrued to these investors and that it should be capped and that they shouldn’t be into perpetuity. That we have changed.
“There was also a question about the Board, the independent directors of the Board in the company located in Jersey. That the independent directors could not be removed nor the chairman without having majority vote. That has been changed, so now we are applying more Ghanaian rules to the Board composition.
Despite public outcry against the deal, Mr Adu-Boahen believes that the Agyapa deal “really to the benefit of Ghanaians and Ghanaians at large”.
Meanwhile, Member of Parliament for Yapei Kushegu, John Jinapor insists that the deal is bad and that the Minority will not assent to it, describing it as “dead on arrival”.
“This whole Agyapa thing they should shelve it if we want to deal with our mineral royalties and our income, we can have a bipartisan discussion and come to a conclusion.
“Then the issue of the Finance Ministers’ company getting involved, we thought that it wasn’t tidy. Then the issue of the President’s cousin’s law firm getting involved, we thought that it wasn’t tidy and that with such a situation, that has far-reaching consequences, all of them should have absolved themselves and allow independent professionals,” he stressed.
Mr Jinapor asked for civil society organisations to be involved in the debate, adding that Parliament on its own can procure the service of an expert to come and look at it and advise Parliament.
Latest Stories
-
BAL 2022 Playoffs: AS Salé face stern Petro de Luanda challenge
9 mins -
80 monkeypox cases confirmed in 12 countries
35 mins -
PPP’s Brigitte Dzogbenuku outlines ‘5 fundamental changes’ to improve Ghana’s constitution
45 mins -
Ghanaians frustrated by non-existent checks and balances between Parliament and Executive – H Kwasi Prempeh
54 mins -
Party card has become more powerful and valuable than Ghana Card – H. Kwasi Prempeh
2 hours -
Agric Ministry directs MMDAs to enforce temporary ban on export of grains
2 hours -
Weekly wrap: Tension in Nkoranza, protest of unemployed nurses and Achimota forest saga
2 hours -
‘A minister gave Cheddar licence to import his tigers’ – Barker-Vormawor claims
3 hours -
Euroget’s hospitals; the story so far
3 hours -
Livestream: Newsfile discusses impacting-influence topics for a better Ghana
3 hours -
Average lending rate rises to 21.6% in April 2022 – BoG
4 hours -
Mobile Money transactions register 9.99% year-on-year growth in 4-months of 2022
5 hours -
VRA bares teeth at Sentuo Steel over pollution
5 hours -
Court orders lawyer of Josephine Panyin to file her witness statement
5 hours -
Ghana’s public debt hits ¢391bn as of quarter 1, 2022
6 hours