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General News of Monday, 31 August 2020

Source: GNA

Concern Voters Movement endorses Agyapa Royalties Deal

President of the CVM, Mr Razak Kojo Opoku President of the CVM, Mr Razak Kojo Opoku

The Concerned Voters Movement (CVM) has endorsed the Agyapa Royalties deal as a perfect agreement to advance the course of Ghana's socio-economic and infrastructural development.

A statement signed by the Founder and President of the CVM, Mr Razak Kojo Opoku and copied to the Ghana News Agency in Accra, said the New Patriotic Party (NPP) government under the selfless leadership of President Akufo-Addo, has adopted a special purpose vehicle to leverage the country's mineral royalties for the overall benefit of the country.

The statement said the decision of Government to list the Agyapa Royalties on the stock exchange was to raise money for the development of the country.

It said the special purpose vehicle is to keep track of the country's investments in the mining industry, based on the law passed by Parliament.

It said the arguments by some Civil Society Organizations (CSOs) and individuals against Agyapa Royalties Minerals Limited were without merit.

"For revenue generation, transparency and accountability, the Government of Ghana has decided to float 49 per cent out of its 100 per cent shares on the stock markets specifically Ghana Stock Exchange and London Stock Exchange and remains the majority shareholder of 51 per cent.”

The statement said one of the impediments to Ghana's socio-economic development was the commentaries from individuals and CSOs.

The CVM statement commended the government for the enactment of Minerals Income Investment Fund (MIIF) and the successful establishment of Agyapa Royalties Minerals Limited for a special purpose vehicle to leverage on the Country's minerals royalties.

It said the Agyapa Royalties Minerals Limited is 100 per cent owned by the Government of Ghana.