Calls for reversal of Agyapa Royalties deal unrealistic – Kweku Baako

Editor-in-Chief of the New Crusading Guide newspaper, Abdul Malik Kweku Baako has describe as ”unrealistic” the call for suspension from the Civil Society Organisations and other observers with respect to the controversial Agyapa Royalties agreement.

Speaking on news analysis show ‘Newsfile’ Saturday morning on Joy FM, Mr Baako said although he supports the work of CSOs and the advocacy for transparency that they have launched, they waited too long to do that.

“I support CSOs calling for a review of the agreement and pushing for engagement and consultation. The problem is when that call was made, where we have reached…the Parliament has passed the approved agreement. I am not sure the call for suspension of this deal is realistic or sustainable. It is not gonna happen.

“It comes with a lot of integrity challenges, in this case the government is dealing with so many organizations, both here and outside. They have proceeded to the extent where agreements have been approved by parliament. The call for reversal in my opinion is not sustainable” he said.

This comes as the debate on whether or not the Agyapa Minerals Royalties deal will benefit the country rages on.

Some economic experts and the former Finance Minister, Seth Terkper have kicked against the deal.

Background

Parliament of Ghana on August 14th approved the Agyapa Mineral Royalty Limited agreement with the government of Ghana despite a walkout by the Minority.

Two years ago, the house passed the Minerals Income Investment Fund Act 2018 which establishes the Fund to manage the equity interests of Ghana in mining companies, and receive royalties on behalf of government.

The fund is supposed to manage and invest these royalties and revenue from equities for higher returns for the benefit of the country.