The Agyapa Royalties deal, which the Nana Addo Dankwa Akufo-Addo government seeks to implement, has once again become a contentious issue. Reports have surfaced indicating that the government has spent over $12 million on the deal despite it being on hold.

Bright Simons, Vice President of IMANI Africa, has outlined reasons why the Agyapa dealWe must know what the $12m was used for – Adotey Allotey on Agyapa deal, which would have affected about 97% of Ghana’s royalties from its mineral resources, should be canceled urgently.

Simons cited the manner in which the deal was pushed through parliament by the government and its majority as the first reason why Ghanaians should push for its cancellation. He noted that the government began implementing the deal without obtaining approval from the Parliament of Ghana, as required by law.

Speaking in an interview on JoyNews on Saturday, February 24, 2024, the IMANI vice president highlighted that the then Attorney General, Gloria Akuffo, had pointed out numerous issues with the deal, including the requirement for parliamentary approval. Despite this, the government used its majority in parliament to push the deal through without proper scrutiny.

Simons also raised concerns about the government's plan to sell Ghana’s gold rights for $1 billion under the deal, which does not include an expiry date or restrictions on future gold deposits. This means that investors would have control over royalties from future gold mines discovered in the country.

He further explained that under the deal, private investors would benefit more, as Ghana's royalties from its gold resources would be listed on the London Stock Exchange, giving investors a significant advantage.

In 2020, the Ghanaian government proposed a deal to raise funds by offering shares in a company called Agyapa Royalties Limited on the London Stock Exchange.

The deal faced significant criticism from civil society groups and the opposition, who alleged that it was a secretive and corrupt arrangement that would allow politicians to benefit at the expense of the country.

Later that year, journalist Kweku Baako revealed that Gabby Asare Otchere-Darko's firm had served as transaction advisors to the government in the failed deal.

Gabby clarified that while his firm, Africa Legal Associates, worked for a UK-based law firm that was the principal advisor on the deal, they were not the principal advisors themselves.

One major point of contention arising from the controversy surrounding the deal is the involvement of Osafo-Maafo's son and Gabby Otchere-Darko.