As part of activities marking World Environment Day, the Minerals Income Investment Fund (MIIF) held an environmental sustainability engagement session themed “Sustainable Practices Today for a Safe Planet Tomorrow.”
The session featured Dr. Ato Jacob Kwamina Dodoo, a faculty member at the University of Environment and Sustainable Development and a renowned expert in environmental governance.
Mrs Justina Nelson, CEO, Minerals Income Investment Fund, making some remarks during the discussions on ESG
In his thought-provoking discussion with MIIF management and staff, Dr. Dodoo emphasized the importance of ESG (Environmental, Social, and Governance) principles in institutional operations.
Dr Ato Jacob Dodoo leading the discussions on ESG to mark the day
He elaborated on the goals and key elements of ESG, providing insight into how these principles can be effectively integrated into MIIF’s daily operations and those of companies in which the Fund holds equity stakes.
Some staff listening in with rapt attention
Dr. Dodoo encouraged participants to reflect on what environmental sustainability means in the context of their workplace, aligning the discussion with this year’s World Environment Day theme focused on plastic pollutants.
The conversation took a practical turn as Dr. Dodoo examined the environmental impact of commonly used office equipment, noting that devices such as laptops, printers, and air conditioners emit harmful gases like carbon dioxide and nitrogen oxides.
He urged department heads to adopt internal policies that support environmental sustainability and reduce the institution’s carbon footprint.
Mr. Kwabena Barning (left), Chief Technical Officer, MIIF, interacting with Dr Dodoo after the lecture
The Chief Executive Officer of MIIF, Mrs. Justina Nelson, emphasized the organization’s commitment to sustainability.
She said the Minister of Finance, Mr Cassiel Ato Baah Forson, had identified environmental stewardship as a key priority during the inauguration of MIIF’s board and noted that the Fund will always incorporate ESG principles in its operations. She added that “MIIF will also continuously ensure that ESG remains a condition precedent anytime the Fund intends to invest in companies operating in the mining space”.
Mrs. Nelson added that MIIF has already rolled out several initiatives aimed at fostering a sustainable work environment and promoting these values among its partners.
The interactive session allowed staff to share their views and experiences on sustainability, making the event both engaging and informative.
Edward Nana Yaw Koranteng, the Chief Executive Officer of MIIF, commented “This is MIIF’s first investment in the alternative asset class and we are delighted at this. The objective of MIIF in line with President Nana Akufo Addo’s vision, is to invest in the development of the entire mining eco-system or value chain which covers the mining supplies and services sector even to the micro or SME level. As part of our alternative investment or diversification strategy, MIIF sees this Injaro opportunity, to invest in private equity, as a conduit to support this mining sub-sector and ultimately the growth of the real economy in Ghana”.
Jerry Parkes, Managing Director of IIAL, commented “The Injaro team is excited and grateful for this opportunity to work with MIIF to further entrench Private Equity as an attractive asset class which can be an effective tool for growing the real economy in Ghana while delivering long term social and financial returns for local investors. Having already secured GHS127M for IGVCF primarily from local pension funds, and with a mandate from investors to grow the fund to GHS400M, the Injaro team welcomes commitments from institutional investors that want to diversify their portfolios and who are aligned with Injaro’s vision of growing the real economy in Ghana”
The framework is part of the strategic thrust of MIIF to enhance royalties collection, expand the royalties net and streamline communication on royalties payments of non-gold mining companies. The collaboration which was initiated in December 2021 has improved the efficiency in collections by the Ghana Revenue Authority (GRA) which is responsible for the collection of royalties on behalf of MIIF, the Ghana Standards Authority (GSA) which assesses standards and accurate production measurements of minerals and the Minerals Commission (MINCOM), the regulator of the mining sector.
By investing in firms with high growth potential and reviewing the strategies of collecting royalties from smaller firms, Koranteng said MIIF hoped to ‘widen Ghana’s royalty net’ and keep the fund growing.
