20.08.2020 NDC News

Agyapa Royalties Deal: Gabby Threatens To Sue NDC MP For 'Lies'

Agyapa Royalties Deal: Gabby Threatens To Sue NDC MP For 'Lies'
LISTEN AUG 20, 2020

A leading member of the governing New Patriotic Party (NPP), Gabby Asare Otchere-Darko, has threatened to sue Member of Parliament for Bia East, Richard Acheampong for defamation over the approved Agyapa Royalties Limited agreement.

Mr. Acheampong is reported to have accused Gabby Asare Otchere-Darko of being a beneficial owner of Agyapa Royalties, the tasked to help monetize the country’s gold royalties on behalf of government.

Gabby Asare Otchere Darko in a Facebook post denied the allegation describing it as illogical.

He disclosed that he has instructed his lawyers to sue the National Democratic Congress’ Bia East MP for defamation.

“I am serving notice that I have instructed my lawyers to sue the MP for Bia East, Richard Acheampong for defamation.”

“Yes, I am a shareholder in Asaase Radio, a completely separate business with absolutely no link to that state-owned company. But should my ownership of a radio station with the name Asaase mean that I am a shareholder in Asaase Royalties, as well? Stretching that illogic should also make me a shareholder in AsaaseGPS, Asaase Farms, Asaase Construction, and the over 20 companies bearing the name Asaase!”

He also used the opportunity to school the MP on the composition of the company.

“Agyapa Royalties is 100% owned by a body set up by an Act of Parliament, where the MP earns his income. That body is the Minerals Income Investment Fund set up in 2018, (Act 978), which is 100% state-owned. Agyapa Royalties shall remain 100% owned by the Ghana Government on behalf of the people of Ghana until it does its planned initial public offering on the London Stock Market or wherever, for investors to buy shares in it. Even then the Ghana Government intends to hold on to 51% [shares],” Gabby stated in the Facebook post.


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