The Finance Minister, Ken Ofori-Atta has charged the Board of the Minerals Incomes and Investment Funds to address all concerns raised by various stakeholders about the Agyapa Royalty Deal before it goes back to Parliament.
Mr. Ofori Atta who considers the deal as the best for the country said all the necessary consultations will be done before it is submitted to the House.
The Agyapa Royalty deal was proposed by the government last year to raise funds through minerals royalties for key infrastructure projects, but could not be passed after stakeholders rejected the deal.
While inaugurating the nine-member board of the Mineral Income Investment Fund in Accra on Tuesday, October 12, 2021.
In 2018, Parliament 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 the government.
The purpose of the Fund was to manage and invest these royalties and revenue from equities for profits for the country’s benefit.
In exchange, the company planned to raise between US$500 million and roughly $1 billion for the government on the Ghana and London Stock Exchanges to invest in development projects.
However, the deal became a subject of public lashes after the opposition National Democratic Congress and some stakeholders kicked against it.
