The Minerals Income Investment Fund (MIIF) has announced plans to list 49% of Agyapa Royalties on the London Stock Exchange and the Ghana Stock Exchange.
Chief Executive Officer of MIIF, Edward Nana Yaw Koranteng announced the plans and said the listing will raise between $450 million and $700 million which will be directed at investing in infrastructure and other social amenities, especially in the mining communities.
“Agyapa, by being incorporated in the UK and listed on the London Stock Exchange, provides the opportunity to leverage on its balance sheet to raise cheaper funding and with [fewer] obstacles to further invest in other royalties companies and leading gold mining companies across the globe. This is an opportunity for Ghana to take the lead and the world is watching,” said Edward.
“I am confident that, in view of current geopolitics, current global economic recessionary trends and demand for gold and equities of gold royalty companies, Agyapa’s market value upon listing will surely shoot up. The listing on the Ghana Stock Exchange will give a greater number of Ghanaians the chance to participate in the ownership of our own mineral wealth. Whatever revenues are realised from the listing of Agyapa come directly to the Minerals Income Investment Fund. We are ready to engage all stakeholders on how we move the Agyapa listing forward after responding to all issues raised by Parliament,” he further said.