Minority slams government over Damang Mine deal, demands 30% state equity stake 

Addressing journalists in Parliament House, Accra, on Friday, Mr Kwaku Ampratwum-Sarpong, the Ranking Member on the Lands and Natural Resources Committee of Parliament, said the involvement of the President’s brother in the transaction should have prompted the government to push for a more favorable deal for the state, rather than simply approving a transfer of ownership.“Rather than merely approving a transfer of ownership, the government should have pursued an increase in the state equity participation from the current 10 per cent to maybe between 20 and 30 per cent, thereby securing greater long-term value and revenue for the Ghanaian people from an already producing mining concession,” he said.

He argued, however, that the connection heightened public interest in the transaction and imposed a greater responsibility on Parliament to ensure the deal was subjected to rigorous scrutiny.