You have no locus standi to speak for the government – Adongo tells Gabby

Isaac Adongo, the Member of Parliament for Bolgatanga Central, has questioned the authority Gabby Asare Otchere-Darko has to be speaking on behalf of the Government of Ghana.

“I feel very disappointed, honestly I feel insulted. I was not told that I will be listening to somebody who has no pedigree in government, who has no role in government at all, who has no right to speak on behalf of the government. We have 135 ministers and this is the person I’m listening to. And he is here, he is unable to answer specific questions, only to be using the word, they...” Adongo told the host of Good Evening Ghana on Tuesday.

Gabby had granted Paul Adom-Otchere an interview regarding his role on the Agyapa Royalties deal.

The interview lasted over 30 minutes but the MP who was also scheduled to be on the programme noted that that was not the initial agreement he had with the producers of the show.

“But for your respect and the respect of your audience, otherwise I would have left long ago. Besides, it’s a big risk to be in this studio till twelve midnight and for me to sit here and listen to somebody deliver ignorant understanding on the financial management of our country, and try so hard to protect his personal interest at the expense of the state, feels very insulting,” Isaac Adongo stressed.

Agyapa Minerals Royalties deal

Parliament of Ghana on Friday, August 14, 2020, approved five agreements that allow the country to derive maximum value from its mineral resources and monetize its mineral income sustainably and responsibly, in line with the Minerals Income Investment Fund (MIIF) Act of 2018 (Act 978).

The act enables the country to use Agyapa Royalties Limited, a Special Purpose Vehicle, as a conduit for securing about $1 billion to finance large infrastructural projects.

In line with that, Agyapa, which will operate as an independent private sector entity, will be able to raise funds from the capital market, both locally and internationally, as an alternative to the conventional debt capital market transactions.

The funds are expected to be raised from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE).