Flagbearer of the National Democratic Congress (NDC) John Mahama has accused President Akufo-Addo of failing in his fight against corruption.

Listing the cancelled Power Distribution Service (PDS) and recently approved Agyapa Minerals Royalties deal as examples, the former president said a new NDC government will investigate the contracts immediately he assumes office.

"Obviously this government has lost the fight against corruption. Our people are tired of corruption, it demotivates them and they want that leader who is in office, who will not only investigate former appointees but also investigate people who engage in corruption in his era,” he said.

His comment follows the approval of the Agyapa Mineral Royalties deal by Parliament despite the Minority’s disapproval. 

The agreement between government and the Special Purpose Vehicle (SPV) company was approved in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978).

The approval will enable the country to use a special purpose vehicle (SPV), Agyapa Royalties Limited, to secure about $1 billion to finance large infrastructural projects.

In view of this, 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, which are expected to be raised from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE), will be a long-term capital, without a corresponding increase in Ghana’s total debt stock.

But this has been disputed by the Minority, with the opposition staging a walkout from the House.

Touching on the development in an interview on Facebook, the former President said his "government will not respect the deal" which according to him was shrouded in secrecy.

Mr Mahama argued that "the Ghana Infrastructure Investment Fund (GIIF) could have played the same role as Agyapa if the Akufo-Addo led government wanted to be transparent."

"This President is not willing to fight corruption. Depending on who you are in his administration, you can do whatever you want and get away with it because he will personally clear you and say that nothing untoward has happened”, Mr. Mahama said.