Ministry of Finance to implement President’s directives on Agyapa deal

The Ministry of Finance says it is committed to implementing the directives of the President Nana Addo Dankwa Akufo-Addo on the Agyapa transaction.

A statement signed by the Public Relations Unit of the Ministry of Finance, assured the public of the Ministry’s commitment to broaden consultation and support for the Agyapa Transaction.

“We wish to assure the general public that the Ministry of Finance is committed to implementing the directives of His Excellency the President. We will continue engaging the Ghanaian people and all stakeholders as part of efforts to engender broader public support for the Agyapa Transaction,” the statement said.

The President, on Monday instructed the Minister of Finance to resubmit the Agreements supporting the transaction to Parliament for the approval process to start all over again in the interest of transparency and accountability to Ghanaians.

The move the President held would help address the concerns raised, principally, by the Minority, about having been given very limited time to subject properly the various Agreements to proper scrutiny.

The transaction documents to be resubmitted are the Relationship Agreement, the Assignment Agreement, the Allocation Agreement, and the Investment Agreement.

In line with the observations of the Special Prosecutor, President Akufo-Addo also directed that the procurement of the services of the Transaction Advisor(s) should also be reviewed by the Ministry of Finance and the Attorney General, with the aim of taking all steps necessary to remove any doubts about the integrity of the process.

The President urged the Ministry of Finance and the Minerals Income Investment Fund and the Transaction Advisors to use the opportunity to amend the relevant Agreements to take into account the useful feedback received during the series of stakeholder consultations over the last two months.

Besides, issues surrounding the value of the proposed Agyapa listing should be properly addressed in order to engender greater public confidence.

The President affirmed his confidence in the Minister for Finance, the Ministry of Finance and the Board and Management of the Minerals Income Investment Fund.

He reiterated his full support and that of his Cabinet for the transaction, describing it as an innovative addition to the framework of efforts of his government to enhance significantly the value that Ghana has, historically, derived from her rich natural resources.