This is due to a letter by the Office of the Special Prosecutor to suspend the listing till it has conducted its corruption risk assessment.
In a statement by the Deputy Minister of Finance, Mr Charles Adu Boahene, and addressed to the OSP, he said the Ministry is abiding by the directive.
The ministry said: “The international investor community has been closely monitoring the outcome of the current state of the transaction, and, it would, therefore, be detrimental to proceed without receiving the necessary approvals and green light from your Office,” it said.
“Additionally, we will be required to fully disclose in the prospectus to the transaction, the outcome of any investigation by your office prior to approval by the respective regulators of stock exchanges in Ghana and the United Kingdom”, the letter to the OSP said.
The letter said the ministry is ever ready to “provide any further information or clarification” to the OSP on the deal.
The Special Prosecutor, Mr Martin Amidu, wrote to the Ministry of Finance a few weeks ago, to hold on with the launch of the IPO until his office had been provided with all the relevant documents and information needed for him to complete his corruption risk assessment of the agreement.
Parliament, a few weeks ago, in line with the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978), approved agreements to allow the country to derive maximum value from its mineral resources and monetise its mineral income accruing to the country in a sustainable and responsible manner.
The move, gives Agyapa Royalties Limited, the right to secure about $1 billion to enable government finance large infrastructural projects.