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29.03.2021 Feature Article

To Ghana's Parliament: Why not restructure Agyapa Royalties?

To  Ghana's Parliament: Why not  restructure Agyapa Royalties?
29.03.2021 LISTEN

Honourable Members of Parliament, let us assume, for argument's sake, that the promoters of Agyapa Royalties are all saints, who want the best for the nation.

However, to protect our nation, we must also assume that in the future, some of their successors might all turn out to be thoroughly dishonest self-seekers, constantly seeking to rip our nation off.

To avoid that fate, let us not make the same mistake we made with letting go of the golden share that the state had in Ashanti Goldfields during its takeover by AngloGold.

At all costs, those managing the annual US$200 million gold royalties must always be accountable to Ghanaians. Full stop.

The question is: Can that not be achieved, by restructuring the company in a manner that enables all their investments to be regularly scrutinized, by Parliament? And, when need be, should the nation not also always have the right to sue them for fraud and lack of fiduciary care, when that is the case?

A golden share in the company too, by the state, won't be such a bad idea either. Honest investors, who are socially responsible, and ethical fund managers, such as BlackRock, would welcome it. Definitely. Restructuring Agyapa Royalties is a must.

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