US investor Says Gov’t Must Build Trust Despite Agyapa Deal Being A Fine Idea

Listen to this Article Now

The Agyapa Royalties arrangement was a decent drive that was presented by the public authority of Ghana, Chief Executive Officer (CEO) of Songhai Group, Mr. Hene Aku Kwarpong who is situated in the United States of America (USA), has said.

In any case, he noticed that the public authority should assemble trust among individuals of the country to get them like the advantage that it accompanies.

“Agyapa is fine however how would we do it to create trust?” he asked in the wake of joining a Monetization of Minerals Royalties Forum held in the assembly room of the Institute of Statistical Social and Economic Research (ISSER of the University of Ghana, Monday, May 3, by means of zoom from his New York base.

The Agyapa bargain got solid resistance from common society gatherings and the National Democratic Congress (NDC) after the pundits said the arrangement was terrible.

Following the public ruckus, President Nana Addo Dankwa Akufo-Addo requested that the arrangement be removed from parliament for additional attempts to be done on it.

The President said in his first condition of the country address in quite a while the second term that the Agyapa arrangement will have returned to Parliament.

“Mr. Speaker, let me, now, guarantee the House that, over the span of this meeting of Parliament, Government will return to draw in the House on the means it plans to assume the eventual fate of the Agyapa exchange,” he said when he conveyed the State of the Nation Address to Ghanaians in Parliament on Tuesday, March 9, 2021.

Addressing the news that Ghana has surpassed South Africa in gold creation Mr. Kwarpong noticed that it is uplifting news yet this improvement has the affinity of rather making issues for the West African country.

He clarified that the mining organizations there really doing admirably in Ghana in this way helping the nation to jump South Africa, are largely South African organizations.

This implies whatever returns or worth they make in Ghana will be localized to their motherland.

He said at the gathering that “Ghana is currently the main maker of gold, we have passed South Africa and other African nations which is extraordinary.

“The issue is that it is entirely a more pressing issue on the grounds that the lone motivation behind why Ghana is biggest maker is on the grounds that two major South African organizations are accomplishing more in Ghana. Thus, in the event that you really take the worth that we get in Gold as a country, it is quite down. So all we are doing is we are uncovering the gold for others to then make esteem along the entire worth chain right to the jury and the national bank.

“So we definitely should attempt to back away from the fixation and truly comprehend that with regards to it, we have practically around 1000 metric huge loads of gold in the ground. There are very nearly eight nations that have more than we do.

“So fifty years from now those eight nations including the US, Australia, Canada, and those folks are additionally the best gathering that has coordinated the greatest organizations that are working in our own nation. So it is as though someone has left their bigger assets to go to your nation to take your stuff.

“So 50 years from now my greatest concern is in the event that we don’t take care we really might not have the chance to try and bring in cash from gold, since others would have adapted it and they would have had still a ton of assets left-back in their country.”

Asset Global Network has announced that gold yield in Ghana bounced by 12% in 2018 to 4.8 million ounces (Moz), overshadowing South Africa’s yield of 4.2Moz interestingly and turning into Africa’s biggest gold maker simultaneously.

South Africa’s gold area has been in slow decrease for quite a while, with administrators compelled to delve further into developing mines at heightening expenses, while Ghana is profiting by minimal effort mines, more amiable strategies, and new advancement projects.

The moving area of Africa’s essential gold center is best embodied by any semblance of AngloGold Ashanti and Gold Fields – customarily known as South African industry stalwarts – who have chosen to move their concentration to different nations, including Ghana.

Moreover, Sibanye Gold – the biggest leftover gold digger in South Africa – is eliminating a great many positions and broadening into platinum bunch metals (PGMs) in a bid to decrease costs.