Chairman of the Minerals Income Investment Fund (MIIF), George Mireku Duker has explained the significance of the Agyapa Royalties deal that has become a bone of contention between the Majority and Minority in Parliament.

The Minority walked out on the deal in Parliament citing reasons that the deal is shrouded in secrecy.

They also claim the deal is a conflict of interest because of the selection of Senior Minister Yaw Osafo-Maafo's son and relative of President Akufo-Addo and Finance Minister Ken Ofori-Atta as part of the Agyapa Royalties deal.

Senior Minister's son & President's cousin's roles

The Senior Minister's son named Kofi Bosompem Osafo-Maafo and Gabby Otchere-Darko, a relative of the Finance Minister and the President of Ghana have been appointed as members of the Agyapa Mineral Royalties firm to handle the deal.

The roles of these two gentlemen have been met with vehement opposition as members and leaders of the National Democratic Congress (NDC) as well as the Minority in Parliament share a strong opinion that the selection of the Senior Minister's son and President's cousin is a conflict of interest.

Cassiel Ato Forson, the Minority Spokesperson on Finance speaking on Joy News file programme, questioned the selection process asking ''was there a system in place that this government advertised for any Ghanaian to be able to have that opportunity; what type of recruitment process was done..?''

My Government won't respect Agyapa deal

Ex-President John Dramani Mahama says he will rescind the deal should he become President again.

Mr. Mahama is the 2020 Presidential candidate for opposition National Democratic Congress (NDC) and hoping to win the votes of Ghanaians in the December polls.

“We will do everything legitimately in our power to oppose the agreement and make sure it doesn’t happen,” he said during a tour of the Upper West Region.

Agyapa deal to solve Ghana's unemployment issues

But according to the MIIF Chairman, George Mireku Duker, the deal is one of the best things to ever happen to Ghana because it will create lots of jobs for the populace.

As Chairman of the entity in charge of the establishment of Agyapa Royalties Limited, a Special Purpose Vehicle, Mr. Mireku Duker felt he was in a better position to tell Ghanaians the importance of the deal.

The Special Purpose Vehicle, Agyapa Royalties Limited is to operate as an independent private sector entity to raise funds for the minerals sector.

He stated emphatically that the deal will help generate adequate revenues to enhance infrastructural development of the nation.

It is also aimed at setting up Ghanaian-owned mining companies to ensure the country's gold proceeds remain in the country and not be exploited to foreign lands.

"We want to establish some Ghanaian-owned mining companies to invest into mining concessions to set up big mining companies to also undertake developmental projects in Ghana. This is to ensure our gold remains in Ghana for us to get local champions within the mining industry in Ghana," he stated on Peace FM's 'Kokrokoo'.

On the issue of equity share of the deal, Mr. Mireku Duker noted that the country isn't going to borrow from foreign mining entities as it's widely peddled around but rather the equity share means the government will be doing business with local and foriegn investors to buy shares from the Agyapa Royalties gold firm.

This is to reap dividends to improve Ghana's economy, particularly the mining sector.

He told host Kwami Sefa Kayi that ''the equity share means we have opened our gold company and if you're interested, then any entity in the world can invest in the company so we can open other mining companies within Africa and more especially Ghana in order to create employment opportunities for people and when we gain profits, we pay dividends to the shareholders. This will discourage the attitude of borrowing and pay interest which will become a burden for posterity. With this deal, we won't pay interest but rather dividends".