The Concerned Voters Movement (CVM) says the Agyapa Mineral Royalties deal should be supported by all well-meaning Ghanaians as it will help transform Ghana’s economy.
In a statement issued by its Founder and President Mr Razak Kojo Opoku, CVM said the deal is an innovative arrangement that will enable Ghana maximise the benefits from its mineral royalties for infrastructural development.
Read the full statement below:
The Concerned Voters Movement (CVM) has endorsed the Agyapa Royalties deal as a perfect deal to advance the course of socio-economic and infrastructural development in Ghana.
It is important to state that Agyapa Royalties Minerals Limited is 100% owned by the Government of Ghana.
The NPP Government under the selfless leadership of Akufo-Addo has adopted a special purpose vehicle to leverage the Country’s minerals royalties for the overall benefit of the Country, unlike John Mahama who decided to use State Power to offer over 58% of the Country’s Bauxite Concession to one of his junior brothers with absolutely no benefit to the Country. In the nutshell, Agyapa Royalties deal is for the benefit of the entire Country whereas Mahama’s Bauxite Concession was for the benefit of the Mahama’s family.
The decision of Government to list the Agyapa Royalties on the stock market is to raise revenue for the development of the Country and nothing else. The deal of Agyapa Royalties Minerals Limited is based on law passed by Parliament (Act of Parliament, Minerals Income Investment Fund), and the deal would be a special purpose vehicle to keep track of all the Country’s investments in the mining industry.
The arguments by some Civil Society Organizations and individuals against Agyapa Royalties Minerals Limited are baseless and without any merit.
For the purposes of revenue generation, transparency and accountability, the Government of Ghana has decided to float 49% out of its 100% shares on the stock markets specifically Ghana Stock Exchange and London Stock Exchange. When that happens, anybody including those making empty noise can buy some of the shares.
After the floating of the shares on the stock market, Government of Ghana SHALL still be the majority shareholder (51%) of the Agyapa Royalties Minerals Limited.
Some of the people behind these Civil Society Organizations who are against Agyapa Royalties deal are a bunch of ignorant people parading themselves as jack of all trades. They know everything but they are experts of nothing. One of the impediments to socio-economic development of Ghana is the usual ignorant commentaries from “hungry and arrogant” individuals behind these Civil Society Organizations whose sources of funding are constantly classified as HIGHLY OPAQUE.
The CVM would like to ask the Civil Society Organizations making the empty noise about Agyapa Royalties deal these two key questions:
1. What expertise, experience, competence and track record does Bright Simons, IMANI people and other CSOs have in stock market, asset management and minerals royalties’ transactions to give them the audacity to throw dust into the eyes of the general public?
2. Can they show with evidence that any of them have worked or consulted for any reputable stock market on minerals royalties before?
CVM commends the Government of Ghana for the enactment of Minerals Income Investment Fund (MIIF) and the successful establishment of Agyapa Royalties Minerals Limited, a special purpose vehicle to leverage on the Country’s minerals royalties.
Razak Kojo Opoku
(CVM Founder & President)