Government owns Agyapa Minerals Royalties Limited -Finance Ministry clarifies

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The Ministry of Finance has said the Agyapa Mineral Royalties Limited is currently wholly owned by the government of Ghana and does not belong to any individual, contrary to speculations.

“Agyapa is 100 per cent owned by the government of Ghana,” a Deputy Minister of Finance, Mr Charles Adu Boahen, told the media in Accra last Thursday.

“Currently, the company is owned by the Minerals Income and Investment Fund (MIIF) on behalf of the government of Ghana. Once the company is listed on the London Stock Exchange (LSE) and the Ghana Stock Exchange (GSE) following regulatory approvals, the MIIF will be the largest shareholder, and hence Agyapa Royalties will be ultimately majority-owned by the government of Ghana,” he explained.

According to him, “the company (Agyapa Mineral Royalty Limited) is to be listed on the LSE and the GSE after the approval by appropriate regulatory authorities in Ghana and London”.

“Once listed, the government of Ghana, through the MIIF, will be the majority shareholder, with at least 51 per cent of the shares,” he noted.

There have been criticisms from a section of Ghanaians, including civil society organisations and the opposition National Democratic Congress (NDC), over the ownership and transparency of the Agyapa deal.

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