Supposed public forum on the monetization of minerals royalties is 'bogus' - Dr Steve Manteaw

Co-chairman for Ghana Extractive Industries Transparency Initiative (GHEITI), Dr Emmanuel Steve Asare Manteaw has described as bogus the public forum organised by the Minerals Incomes Investment Fund to explore the concept and best practices of monetizing minerals royalties.

According to him, the public forum does not constitute proper consultation as the government should have first come out with the amendment in the Agyapa deal after President Akufo-Addo directed the Finance Minister and the Attorney-General to correct the concerns raised by the Civil Society Organizations (CSOs).

Speaking on Okay FM’s 'Ade Akye Abia' Morning Show, Dr Steve Manteaw was of the view that the President should have made public the changes done in the Agyapa deal as raised by the Civil Society Organizations (CSOs) and then call for public discussion on those changes before any public forum to explore the concept and best practices of monetizing minerals royalties.

“That supposed consultation going on about the mineral royalties is bogus. It is not a proper consultation . . . if the President claims that the concerns raised about the Agyapa deal have been resolved, he should have made public the amended document and then discuss it, but with this public forum, which of the experts or the stakeholders saw the amended document about Agyapa deal before discussing minerals royalties monetization?” he asked.

He stressed that if the Akufo-Addo government had done changes in the Agyapa deal as raised by the Civil Society Organizations (CSOs) and is willing to discuss the changes, it would have called the Civil Society Organizations (CSOs) to join the public forum.

“The government knows the existence of CSOs handling issues of accountability and corruption and so if the government has the will and had done the changes in the Agyapa deal, it would have called the CSOs to join the public forum,” he indicated.

He, however, noted that the Akufo-Addo government knows that the minerals royalties are not the only problem the country has about the management of the mineral resources as the NPP in its 2016 manifesto promised to introduce a Consolidated Comprehensive Mineral Revenue Framework similar to the Petroleum Revenue Management Act.

He reiterated that the promise of the Akufo-Addo government in the 2016 manifesto about the management of the mineral resources is not what is happening currently.

Experts at Monday’s public forum on the monetization of minerals royalties have concluded that Ghana should boldly monetize its minerals incomes if it intends to make the most benefits from the sector.

Speakers at the Forum including Hene Aku Kwapong (Founder of the Songhai Group) Kwabena Ata Nuamah Mensah(Resource Governance Professional) and Carl Odame- Gyenti ( Banking and Finance Professional) argued that countries like South Africa and Saudi Arabia which have seen quick investments in infrastructure have done so because of among other things the monetization of their resource incomes.

Listen to him in the video below