Information Minister Kojo Oppong Nkrumah has said there is nothing untoward about the Agyapa Minerals Royalties transaction.

The Ofoase Ayirebi MP explained the structure of the Agyapa Royalties transaction and its benefits in an interview with Joy News' Evans Mensah on PM Express on Monday.

According to him, the deal raises no debt financing for Ghana and bears no loan interest expenses. He added that Ghana retains a majority stake in future royalties.

“Under the transaction Ghana now has a vehicle for undertaking participating interests in mineral explorations the world over” he said.

Parliament recently gave an approval for the creation of a Special Purpose Vehicle (SPV) in fulfilment of the Minerals Income Investment Fund Amendment which is yet to be assented by the President.

The Minister said it was unfortunate that the flagbearer of the opposition National Democratic Congress (NDC) John Mahama threatened potential international investors and sought to scare them away from the transaction.

The former president said a new NDC government will investigate the cancelled Power Distribution Service (PDS) and recently approved Agyapa Minerals Royalties deal 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,” Mr Mahama said.

Mr Oppong Nkrumah criticised the minority’s habit of creating controversy around international transactions.

“This is not the first time, in 2017 and in 2018, our friends on the other side when we started with the Vodafone deal criticized it and made it clear that when they are elected into power, they will review it. In the end where did the review lead to? But they threatened international investors and created talks on the floatation process on the international market.

"Maybe Ghana could have taken advantage of insurance premiums and other incentives that came with the deal but because of how the constant criticism of the opposition on deals like this, those who do risks assessment on our deals often charge as more," he said.

He said even with the Esla deal, the same thing happened where the minority sounded all manner of threats to international investors.

"When we brought in the Synohydro deal, we had a minority that wrote a letter to the IMF trying to alert them that the deal we were about to sign is a loan and not a barter arrangement. So you ask yourself to what effect? So that if the IMF says it is a loan, then they rubbish the transaction.

"It is no different from what is happening with the Agyapa deal as our colleagues in the minority are threatening international investors and that in the likely event that they win power, they will not honour it. I don’t think it is patriotic so we on the majority side of parliament think that the minority should stop conducting themselves in that manner,” he added.