According to him, the deal is a bad one and must not be allowed to go through.
He expressed wonder why the New Patriotic Party (NPP) government was in such indecent haste to push through the deal which he describes as corrupt and terrible.
His comments follow views expressed by Gabby Asare Otchere-Darko and others to the effect that persons such as Bright Simons, who lack expertise in investment banking, cannot be more informed on the soundness of the deal than the experienced investment bankers such as Finance Minister, Ken Ofori-Atta, who are overseeing the Agyapa deal.
Two years ago, the Parliament of Ghana passed the Minerals Income Investment Fund Act 2018 which establishes the Fund to manage the equity interests of Ghana in mining companies, and receive royalties on behalf of the government.
The fund is supposed to manage and invest these royalties and revenue from equities for higher returns for the benefit of the country.
The law allows the fund to establish Special Purpose Vehicles (SPVs) to use for the appropriate investments. Last month, the government introduced an amendment to the act to ensure that the SPVs have unfettered independence.
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The approval will enable the country to use a special purpose vehicle, Agyapa Royalties Limited to secure about $1 billion to finance large infrastructural projects.
In line with that, Agyapa, which will operate as an independent private sector entity, will be able to raise funds from the capital market, both locally and internationally, as an alternative to the conventional debt capital market transactions.
The funds, which are expected to be raised from the Ghana Stock Exchange (GSE) and the London Stock Exchange (LSE), will be a long-term capital, without a corresponding increase in Ghana’s total debt stock and hence without a public debt repayment obligation.
Some said the deals are valued for money whiles others referred to it that it's a stinking and corrupt deal by the government where appointees of the New Patriotic Party (NPP) are engaged to do.
The Agyapa Royalties deal is part of the current government’s strategy to beat the long-standing problem of lack of capital for developmental projects.
Kofi Bentil has added his voice to the public agitation against the controversial Agyapa Royalties deal.
In a Facebook post, he said "I am in favor of engineering our resources in the country and also our revenue to attain greater returns in the country. But after analyzing the Agyapa deal I can say it is terrible and corrupt."