Agyapa Deal: MIIF CEO Might be Called to Address More Queries - Atta Akyea

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The chairman of Parliament's Mines and Energy Committee, Samuel Atta Akyea, has hinted that the $12 million cost connected to the canceled Agyapa Minerals Royalties agreement may come under closer examination. 

The Minerals Income Investment Fund (MIIF) CEO, Edward Nana Yaw Koranteng, may be asked to provide the Public Accounts Committee (PAC) of Parliament with comprehensive expense breakdowns.


In reaction to charges of wrongdoing pertaining to the transaction, Atta Akyea emphasized the need of accountability when handling public funds. He stressed that issues involving public finances need to be carefully investigated in order to maintain openness and avoid conjecture about the use of large amounts of money.

Atta Akyea suggested that inviting Koranteng before the committee would provide an opportunity to dissect the components of the considerable expenditure. Highlighting the importance of clear explanations in such financial matters, he noted the necessity for all involved parties to shed light on the allocation of funds and offer clarity on the utilization of resources.


Sammy Gyamfi, the National Communications Officer of the NDC, emphasized the impending accountability for all individuals linked to the Agyapa Royalties deal. He underscored the stance of the NDC in recovering all funds affiliated with the project and referenced the findings of the Corruption Risk Report by the Office of the Special Prosecutor, stressing the purported illegalities in the deal.

Related To This: Corruption Has Proliferated Under Akufo-Addo's Administration — Mahama

Edem Senanu, an anti-corruption campaigner, expressed astonishment at the substantial consultancy fees disbursed in relation to the project. He called for a comprehensive investigation into the deal, citing the need for additional scrutiny given the lack of transparency surrounding the expenditure, particularly amidst public reservations about the project's viability and national interest.

Background and Suspension of the Agyapa Deal

The Agyapa deal, initiated to mobilize funds through mineral royalties for infrastructural projects, faced suspension following public outcry in 2021. Despite the suspension, disclosures by the CEO of MIIF revealed a significant expenditure of $12 million towards the preparations for the initial public offering on the London Stock Exchange. 

The Finance Ministry's procurement of international consultancy services for the deal was reportedly based on advised guidance supporting the establishment of a gold royalties company beneficial to Ghana.


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