Private legal practitioner Kow Essuman says Ghana would have been benefitting a lot from the Agyapa Minerals Royalty Limited by now if not for personal interests including politics.
With gold prices now soaring, he said a lot of money would have been flowing into the economy.
“The gold price when Asaase Royalties (later Agyapa Royalties) was birthed and ready to be listed on the London Stock Exchange was approximately $1,300,” he wrote on his official Facebook page.
“There was a strong appetite for the listing, with over $750m to be raised by floating 49% of the shares on the stock exchange, while Ghana still retains its majority shareholding.”
He argued that with the gold price now almost $5,000, a lot of money would have even flowing into Ghana’s economy “if Agyapa Royalties had been listed on the LSE, GSE, and other stock exchanges, alongside the work that GoldBod is doing”.
“Sadly, we will never know,” he lamented.
“That is what happens when petty politics and personal interest override the national interest.
“A vision that is good for our country should not be killed because we want personal interests, including political interests, to override the national interest.”
Agyapa Royalties was set up by the Akufo-Addo-led government to monetise Ghana’s future gold royalties by listing on the London Stock Exchange.
But it was suspended following controversy on the terms.