NDC doublespeak on Agyapa deal. Jinapor says ‘dead on arrival’, whilst Forson intimates ‘resistance’

The opposition National Democratic Congress is engaged in doublespeak on the controversial Agyapa Deal.

While Yapei-Kusawgu MP, John Abdulai Jinapor, insists that the National Democratic Congress (NDC) MPs will resist any attempt to reintroduce the controversial Agyapa Minerals Royalties deal in Parliament, he admits that a bipartisan approach will be considered by the NDC.

Ato Forson, however, indicates that the NDC will resist it in any form, a pointer to the fact that only an attempt by the ruling NPP to force it through Parliament – if that can work for ruling party – is the only way out of the dilemma.

Although the deal has now been suspended, President Akufo-Addo while delivering his State of the Nation (SONA), last Tuesday, hinted that the deal that failed to see the light of day in the 7th Parliament will be resurrected in the 8th Parliament.

He explained that government will come back to engage Parliament on the steps it intends to take on the future of the Agyapa transaction.

It appeared that the NDC did not quite listen to the softened stance of the President in taking the deal forward at a bipartisan level.

Little wonder that speaking on Joy FM’s Super Morning Show Wednesday, Mr Jinapor, said government should consider the deal ‘dead on arrival,’ if critical modification has not been made to the transaction.

Describing the initial deal as opaque and questionable, the former Deputy Energy Minister said it needs to be shelved.

“The level of opacity with that agreement and the attempt to rush it through within 24 hours, despite all the issues we [NDC] have raised, gives cause for concern.

The doublespeak breath showed again when he stated that “[That is why] it should be considered dead on arrival from our side. We don’t have to go through the whole process again. This whole Agyapa thing should be shelved,” he told Joy FM’s host Winston Amoah.

Mr Jinapor, however, suggested that all relevant stakeholders must be involved in restructuring the transaction for the nation and its citizens to enjoy its full benefits.

“If we want to deal with our Mineral Royalties and income, we can have a bipartisan discussion and come to a conclusion,” he said.

Speaking on the same issue, the Deputy Majority Leader, Alexander Kwamina Afenyo-Markin accused the NDC MPs of politicizing the deal.

In his view, the transaction would have benefited the country immensely if the Minority in Parliament had not played politics with the deal.

Background

On August 14, 2020, Parliament approved the Agyapa Minerals Royalties Investment Agreement and four related documents to allow for the monetisation of Ghana’s future gold royalties.

Under the agreement, Agyapa Mineral Royalties Limited has been incorporated in Jersey near UK to receive and manage royalties from 16 gold mining leases over the next 15 years or so.

In exchange, the firm will list on the London and Ghana Stock Exchanges later this year and raise at least $500 million for government to invest in infrastructure, health and education.

The listing will allow private people to buy a 49 per cent stake in the firm.

However, some 22 civil society organisations called for a suspension of the deal, insisting it was not in the interest of Ghana.

Former Finance Minister Cassiel Ato Forson, reiterating that the Minority in Parliament will reject the Agyapa deal if it is brought back to the House for consideration during a Top Story on Joy FM, Tuesday, he stated that the structure of the Agyapa deal is so bad that it will be in the country’s interest if it does not see the light of day at all.

“We want to use this medium to assure the people of Ghana that we, the members of the NDC Minority, will not accept Agyapa in any form. They can decide to change the name, give it a new colour, clothe it in any form, bring it differently, Agyapa is still Agyapa.”

“We will not allow it to go through today or tomorrow, and we have decided that we will fight against this structure as it stands,” Dr Ato Forson told host, Evans Mensah.

His comment comes after President Akufo-Addo said the government will come back to engage Parliament on the steps it intends to take on the future of the Agyapa transaction.

Delivering his State of the Nation Address (SONA) Tuesday, he hinted that the controversial deal that failed to see the light of day in the 7th Parliament will be resurrected in the 8th Parliament.

Dr Ato Forson questioned why the President will want Parliament to revisit the Agyapa deal when many Civil Society Organisations and Ghanaians vehemently opposed the deal since its inception.

The Ajumako-Enyan-Esiam Constituency MP said that it is “disrespectful” for President Akufo-Addo to ignore the people’s wishes and attempt to get the Agyapa deal approved,

“He should rather tell us that he has listened to the people of Ghana and in the end, he has cancelled Agyapa.”

Old Agyapa

On August 14, 2020, Parliament approved the Agyapa Minerals Royalties Investment Agreement and four related documents to allow for the monetisation of Ghana’s future gold royalties.

Under the agreement, Agyapa Mineral Royalties Limited has been incorporated in Jersey near UK to receive and manage royalties from 16 gold mining leases over the next 15 years or so.

In exchange, the firm will list on the London and Ghana Stock Exchanges later this year and raise at least $500 million for government to invest in infrastructure, health and education.

The listing will allow private people to buy a 49 per cent stake in the firm.

However, some 22 civil society organisations called for a suspension of the deal, insisting it was not in the interest of Ghana.

Some 15 Civil Society Organizations (CSOs) under the umbrella name Alliance of CSOs working on Extractive, Anti-Corruption and Good Governance also demanded the immediate suspension of the implementation of the controversial Special Purpose Vehicle, Agyapa Royalties Limited established by government though the Minerals Income Investment Fund.

Former Special Prosecutor, Martin Amidu’s Corruption Risk Assessment on Agyapa deal also raised red flags over the deal, describing the deal as likely to be fraught with corruption.