Press Releases

Ghana’s Minerals Income Investment Fund (MIIF) has signalled a strategic expansion of its mandate beyond royalty collection within the country, aiming to pursue regional co-investment initiatives and position itself more prominently within the sovereign wealth landscape in the sub-region.

The Chief Executive Officer (CEO) of the Fund, Mrs Justina Nelson, said MIIF was recalibrating its strategy to maximise mineral income and deploy it more competitively across diversified assets.

“Our setup is to maximise the value of income due to the Republic of Ghana. But beyond mobilising royalties, we are focused on monetising these flows prudently and investing them to create long-term value for Ghana,” she said in her presentation at the Ghana Day during the 2026 African Mining Indaba in Cape Town, South Africa on February 11.

The Ghana Day served as a high-impact investment platform, positioning Ghana as a stable and forward-looking mining destination while showcasing the country’s commitment to responsible resource development, regulatory transparency, and long-term value creation.

Against the backdrop of rising global demand for minerals, the event attended by a large number of people from across the continent, provided MIIF and others, an opportunity to engage international investors, industry leaders, and strategic partners through focused discussions on policy reforms, investment incentives, and opportunities across the mining value chain, from exploration to value addition and downstream industrialisation.

Mrs Nelson noted that Ghana recorded significant mineral royalty inflows in 2025, creating an opportunity for MIIF to diversify its portfolio across equities, fixed income and alternative investments in line with its mandate to generate sustainable, long-term returns for the Republic.

“At the core of our priorities is sustainability. It is not just about collecting royalties. It is about how we invest them responsibly, competitively and transparently to benefit current and future generations,” she added.

She further outlined plans for 2026 to pursue co-investment partnerships with other sovereign wealth and mining-focused growth funds across the sub-region.

“There is no shortage of opportunity in the mining space. What is required is collaboration, strong governance and trust.

We are positioning MIIF as a world-class sovereign investor ready to partner across the region,” Mrs Nelson stated.

Investment destination

Ghana’s High Commissioner to South Africa, His Excellency Benjamin Kofi Quashie, described Ghana as a stable and predictable investment destination, urging investors to take advantage of the country’s reform-driven economic environment.

“Ghana stands as a beacon of stability and opportunity in West Africa. We are committed to creating a conducive atmosphere for investors to make informed and confident decisions,” he said.

Commitment

For his part, the Minister for Lands and Natural Resources, Emmanuel Armah-Kofi Buah, reaffirmed government’s commitment to strengthening the mining sector’s regulatory and institutional framework.

“We seek not just capital, but ethical and innovative partners committed to long-term value creation”.

Ghana is open for business, and we are determined to ensure a win-win partnership for investors, communities and the nation,” he noted.

The Chief Executive Officer of the Minerals Income Investment Fund (MIIF), Mrs. Justina Nelson, has called for stronger collaboration, smarter regulation, and catalytic African capital to unlock the next wave of mining projects on the continent.

She made these remarks at a CEO Roundtable Discussion held during the Ministerial Symposium of the African Mining Indaba 2026, on Sunday, 8 February 2026, at the Cape Town International Convention Centre (CTICC) in Cape Town, South Africa.

The high-level session, themed “Financing a New Wave of Mining Projects in Africa – Innovation, Regulation & Collaboration,” brought together policymakers, sovereign wealth fund leaders, investors, and industry executives to examine how Africa can develop bankable, scalable, and sustainable mining projects.

Mrs. Nelson participated in the discussion alongside Hon. Yakubu Mohammed, MP for Ahafo Ano South and a Member of MIIF’s Governing Board and Mr. Kwabena Barning, the Chief Technical Officer of MIIF.

Addressing Financing Barriers in African Mining

Contributing to discussions on financing early-stage mining projects, the MIIF CEO highlighted key challenges facing the sector, including geopolitical risks, regulatory uncertainty, infrastructure deficits, and weak project pipelines.

She noted that while global capital is available, Africa faces a shortage of bankable, investment-ready mining projects, particularly at the early stages. Mrs. Nelson stressed the importance of sovereign wealth funds and development finance institutions playing a catalytic role by taking early positions to de-risk projects and crowd in private investment.

“There is no shortage of capital globally. What Africa needs are de-risked, feasibility-ready projects that investors can confidently support,” she emphasised.

Role of African Institutional Capital

Mrs. Nelson underscored the critical role African institutional investors, such as sovereign wealth funds and pension funds can play as strategic co-investors rather than dominant players. According to her, institutions like MIIF bring long-term capital, governance discipline, and credibility that help improve project bankability and investor confidence.

She further highlighted the importance of structured partnerships, platform investments in shared infrastructure, and blended financing models to support sustainable mining development without distorting markets.

Digitalisation, AfCFTA and Regional Value Addition

The MIIF CEO also pointed to digital cadastral systems and transparent geological data as essential tools for attracting exploration capital and reducing investment risk. She cited Ghana’s policy reforms, including the removal of VAT on exploration inputs, as examples of how regulatory clarity can stimulate investor interest.

On regional integration, Mrs. Nelson emphasised the opportunities presented by the African Continental Free Trade Area (AfCFTA) to harmonise standards, pool infrastructure, and develop regional processing hubs that are economically viable and attractive to large-scale investors.

Strengthening Public–Private Collaboration

Discussions at the roundtable further focused on effective public–private partnership models. Mrs. Nelson advocated a pragmatic risk-sharing framework where governments assume infrastructure and regulatory risks, while private investors focus on operational and technological execution.

She highlighted successful examples from Ghana, including power infrastructure partnerships that have improved the bankability of mining and processing projects.

MIIF’s Commitment

The participation of MIIF at the African Mining Indaba 2026 reinforces the Fund’s commitment to maximising the value of Ghana’s mineral wealth, supporting sustainable mining investments, and advancing Africa’s broader industrialisation agenda.

The Minister for Lands and Natural Resources, Emmanuel Armah Kofi Buah, has said Ghana is adopting a deliberate investment-led approach to the management of its mineral resources through the Minerals Income Investment Fund (MIIF).

The approach, he said is aimed at enabling the country to participate more meaningfully in the mineral value chain while ensuring long-term national benefits from the sector.

He explained that rather than relying solely on royalties and taxes, the MIIF framework seeks to leverage mineral revenues to build a diversified portfolio of strategic investments that support sustainable economic growth.

“Through MIIF, Ghana is deliberately taking an investment perspective to mineral resources. It allows us to participate more meaningfully in the value chain by investing mineral revenues in assets that can generate sustainable returns for the country,” the Minister said.

Conference

Mr Buah said this during a panel discussion on the topic: “How close is Africa to real regional and continental integration?” at the 32nd Africa Mining Indaba in Cape Town.

The four-day conference on the theme: “Stronger Together: Progress Through Partnerships”, brought together governments, mining companies, investors, and financiers from across the global mining value chain to explore investment partnerships, policy reforms and the future of mining across the continent.

He explained that the Fund was established to enable the state to take equity positions in mining-related ventures, including infrastructure and downstream opportunities, thereby crowding in private capital while reducing the country’s dependence on traditional fiscal instruments such as taxes and royalties.

According to the Minister, this model strengthened investor confidence by signalling Ghana’s long-term commitment to the sector.

“Investors want predictability and seriousness of purpose. An institution like MIIF demonstrates that Ghana is not only regulating the sector, but also investing alongside partners for mutual benefit,” he stated.

Mr Buah further indicated that MIIF’s mandate aligned with Ghana’s broader industrialisation and regional integration agenda, particularly within the Economic Community of West African States (ECOWAS), where cross-border mineral value chains and shared infrastructure are increasingly being discussed.

“There is strong potential for mineral-linked investments that cut across borders. Investment vehicles such as MIIF can support regional projects where individual national markets may be too small, but collectively become viable,” he said.

Touching on governance, Mr Buah stressed that investment must be underpinned by regulatory certainty, credible geological data and responsible environmental management, noting that these elements were critical to attracting patient capital into the sector.

On illegal mining, he reiterated government’s commitment to protecting legitimate investments while pursuing a balanced approach that combines enforcement with community engagement and formalisation.

The Minerals Income Investment Fund (MIIF) has begun its participation at the African Mining Indaba 2026 with a series of high-level engagements aimed at strengthening partnerships, attracting investment, and advancing sustainable mining practices. The engagements followed the official opening of the conference at the Cape Town International Convention Centre (CTICC), one of the largest global platforms for mining dialogue and investment.

The 2026 edition of the Africa Mining Indaba brings together thousands of delegates from governments, mining companies, financial institutions, and development partners to discuss the future of mining in Africa. This year’s conference is being held under the theme “Stronger Together: Progress Through Partnerships,” highlighting collaboration as a critical driver of sustainable development across the sector.

The conference was formally opened on Monday, February 9, 2026, by the Executive Mayor of Cape Town, Geordin Hill-Lewis, who welcomed delegates to the city and underscored mining’s importance to Africa’s long-term development.

In his address, the Mayor emphasised the role of mining in building resilient economies, supporting the global energy transition, and delivering inclusive growth across the continent.

He called for closer collaboration between governments, investors, and industry players, stressing that Africa’s mineral wealth must be transformed into shared prosperity through partnership-driven approaches. The Mayor also highlighted the need for predictable regulatory frameworks, strong institutions, and government-led infrastructure development to support investor confidence.

Concluding his remarks, Mayor Hill-Lewis drew on an African proverb to reinforce the central theme of unity and collective responsibility, stating: “The one who joins the hand has the right to the meat.” The message resonated strongly with delegates, reflecting the conference’s emphasis on cooperation as a pathway to sustainable outcomes.

With the conference officially underway, the Minerals Income Investment Fund (MIIF) commenced its programme of activities on Monday, launching a packed schedule of strategic meetings with mining companies, investors, and financial institutions. The engagements were led by the Fund’s Chief Executive Officer, Mrs Justina Nelson, with support from Board Members Hon. Yakubu Mohammed, MP for Ahafo Ano South-east, and Ms Ama Mawusi Mawuenyefia, as well as the Chief Technical Officer, Mr Kwabena Barning, and the Head of Investment, Mr Ernest Attiso. The discussions focused on identifying partnership opportunities that align strong commercial returns with Ghana’s national development priorities.

Among the key engagements were meetings with Asanko Gold Mine Ghana Limited, AngloGold Ashanti Ghana Limited, and Gold Fields Ghana Limited. Discussions centred on potential collaboration in areas such as streaming arrangements, foreign exchange considerations, sustainability initiatives, and environmental, social and governance (ESG) integration. The conversations reflected MIIF’s mandate to play a catalytic role in Ghana’s mining sector while supporting responsible investment practices.

Beyond financial considerations, the meetings placed strong emphasis on environmental stewardship. The companies expressed commitment to working with MIIF’s ESG and Sustainability teams to support the reforestation of mined-out areas, reinforcing shared responsibility for land restoration and long-term environmental management.

Social impact also featured prominently in the discussions. The companies reaffirmed their support for MIIF’s Women from Mining Communities (WomCom) Scholarship Programme, pledging collaboration on STEM education initiatives aimed at increasing opportunities for women and girls in mining communities. The programme seeks to expand female participation in technical and leadership roles within the mining sector.

By the close of activities on Monday, MIIF had established a strong presence at African Mining Indaba 2026. The Fund’s early engagements translated the conference’s call for partnership into tangible discussions, positioning MIIF as a key national institution committed to balancing investment performance with environmental responsibility and inclusive growth.

The Minerals Income Investment Fund (MIIF) in collaboration with the Public Procurement Authority (PPA), has organized a three-day training programme on the Ghana Electronic Procurement System (GHANEPS) for management and staff of the Fund.

The training, held at the Lancaster Hotel in Accra from Wednesday, January 28 to Friday, January 30, 2026, is in line with the government’s efforts to roll out the system across public institutions to promote transparency, efficiency, and accountability in public procurement.

Designed to build capacity within public institutions, it helped to deepen participants’ understanding of procurement procedures and strengthened their ability to use the GHANEPS platform to carry out procurement activities efficiently and seamlessly.

In a brief remark to close the session, the Director of Capacity Building at the PPA, Mr George Osei-Poku, emphasised the importance of applying the skills acquired during the training in the Fund’s day to day procurement activities.

He urged officers of the Fund to fully adopt GHANEPS for all MIIF procurement activities and indicated that PPA is available to provide support whenever the need arise.

The participants welcomed the training, expressing satisfaction with the facilitators’ practical approach to the training.

They admitted that the GHANEPS platform will help to reduce human intervention in procurement processes, promote fairness, and increase confidence in public procurement.

They observed that the system does not only accelerate the procurement cycle from advertisement to tender opening, but provides an open and accessible platform for suppliers, contractors, and consultants.

It also creates a secure digital audit trail for all transactions, ensuring accountability and transparency at every step.

The Board and Management of the Minerals Income Investment Fund (MIIF) and some members of the Audit Committee have held a Strategy Planning Session as part of ongoing efforts to sharpen the Fund’s strategic focus and align leadership around its priorities for 2026.

Opening the one-day session on Tuesday, January 27, 2026, the Board Chairman, Mr Richard Kwame Asante, reflected on the Fund’s significant achievements, particularly around royalty collections in which targets were exceeded last year and challenged Management to view the successes chalked as a foundation rather than a destination.

Mr Asante used the occasion to commend Management and staff of the Fund, on behalf of the Board, for the strong performance in 2025.

“However, as we all know, strong past performance is not a substitute for sound forward planning and the results now belong to the archives.

The terrain ahead is more complex and more constrained. Expectations are high, resources are tighter, and scrutiny is sharper,” he cautioned.

Mr Asante noted that; “Our collective responsibility, Board and Management alike, is to ensure that MIIF remains strategically focused, financially disciplined, and firmly anchored in its public mandate.

The Chief Executive Officer, Mrs Justina Nelson, called for renewed strategic focus and institutional agility as the Fund navigates a significantly altered operating environment.

She said the meeting marked a critical moment in the Fund’s journey, following major amendments to the Minerals Income Investment Fund Act (Act 978) that have reshaped its mandate and operating framework.

She reminded participants that MIIF was established as a sovereign wealth fund to maximise value from Ghana’s mineral resources in a transparent, responsible and sustainable manner for both present and future generations.

However, she noted that recent legislative changes, particularly the Minerals Income Investment Fund (Amendment) Act, 2025 (Act 1137), have introduced fundamental shifts that require careful strategic recalibration.

Mrs Nelson noted that the Fund enters the 2026 strategy cycle from a position of strength, having recorded strong financial and operational performance in the past year, supported by structural adjustments and managerial realignment.

She cautioned, however, that past successes must not breed complacency, as the road ahead is more complex and demanding.

The CEO acknowledged the insights shared by PriceWaterHouseCoopers (PwC) during the strategy session with a presentation focused on the topic; “Repositioning MIIF as a World-Class Mineral Fund”.

The presentation examined MIIF’s current Assets Under Management (AUM) across equities, alternative investments and money market instruments.

It also benchmarked MIIF against five leading sovereign wealth funds, the Norway Government Pension Fund Global, China Investment Corporation, Abu Dhabi Investment Authority, Kuwait Investment Authority, and the Hong Kong Monetary Authority, highlighting their early Assets Under Management (AUM) growth trajectory, diversified board sub-committees, robust governance frameworks, long-term investment horizons, rigorous risk management, ESG integration, and strong transparency and reporting practices.

Mrs Nelson also expressed gratitude to the various heads of departments of the Fund for their presentations.

The presentations aligned to the Fund’s three strategic pillars: increasing collections; driving investment and sustained growth; and strengthening governance and institutional capacity.

The MIIF CEO indicated that the inputs from PwC and the departmental heads will ensure that the resulting strategy is practical, integrated and executable.

The session featured an engaging question and answer segment, during which Mr Richard Hagan from the Internal Audit Committee offered further insights on good governance practices, while Mr Maxwell Asare-Brewu also from the Internal Audit Committee, proposed measures to explore the establishment of an IT Steering Committee within the Fund.

The Strategy Session featured breakout group discussions, group presentations, and the identification of actionable takeaways to support the effective delivery of MIIF’s strategic pillars during the year.

On Friday, 19 December 2025, the Minerals Income Investment Fund (MIIF) closed the year with a heartwarming End-of-Year break ahead of the Christmas festivities.

The occasion provided staff with an opportunity to pause, reflect, and celebrate a year marked by strong leadership, dedication, teamwork, and collective effort.

The reflective session was facilitated by the Chief Executive Officer, Mrs Justina Nelson, who reviewed the year 2025, acknowledging the Fund’s successes by way of royalties collection as well as return on investments while drawing lessons from the experiences to further strengthen the Fund next year, 2026.

She commended staff for their resilience, professionalism, and unwavering commitment to the Fund’s mandate, emphasizing that every milestone reached was the result of teamwork and shared purpose. She encouraged staff to build on the momentum, strive for excellence, and do even more in the coming year.

Her message concluded with warm wishes for a Merry Christmas and a prosperous New Year.

Other members of Senior Management also took the opportunity to extend goodwill messages, thanking staff for their hard work and wishing everyone a joyful Christmas season. Their remarks reinforced a strong sense of unity, appreciation, and shared responsibility across the organisation.

Beyond the formal engagements, the celebration was filled with warmth and cheer. Staff participated in indoor games, enjoyed music, and broke bread – creating an atmosphere of relaxation, laughter, and friendship.

It was a moment to relax, re-connect, and celebrate the MIIF family spirit that forms the basis of the Fund’s work culture.

Accra, December 18, 2025 – Executives of Gold Fields Ghana met with their counterparts at the Minerals Income Investment Fund (MIIF or the Fund) on Thursday, December 18, 2025, to discuss the operations of the company, potential investment opportunities for the Fund, and areas of collaboration.

The discussions held on December 18, 2025, highlighted the critical role of Gold Fields’ investments in Ghana which accounts for 31% of Gold Fields’ global production.  

The delegation from Gold Fields Ghana Ltd was led by Mr Elliot Twum, Senior Vice President and Managing Director, Ms Emma Morrison, Regional Head, Corporate Affairs, and Mr William Empeh, Head, Human Resource.  

MIIF delegation was led by Mr Kwabena Barning, Chief Technical Officer, and other senior management members.  

Among the many things discussed in the meeting, Mr Twum, in his presentation, stressed on the pillars underpinning their strong track record of operational success, which will continue to drive contributions going forward.

The key success factors, he said, remain the presence of experienced technical and management team, robust organizational governance and Environmental, Social, and Governance (ESG) footprint which he elaborated on further during the discussion, the country’s significant resource potential, and their presence in a tier-one mining jurisdiction.  

“Collectively, these elements reflect their unwavering commitment to sustaining operations and advancing asset development in Ghana,” he added. 

Mr Twum on ESG, reflected on the company’s establishment of Ghana’s first mine foundation, the construction of a US$27 million for a 33km asphalted Tarkwa-Damang road, the US$13 million 10,000-capacity stadium, and rehabilitation of tailings storage into productive farmland.  

These efforts, he noted, earned the company the “Best Green Mine” and “Best Performer in Environmental Management” awards for 2024. 

The MIIF team expressed appreciation to Gold Fields for the engagement, emphasizing  MIIF’s keen interest in exploring future collaboration with Gold Fields through knowledge sharing, capacity building, and any other areas of mutual benefits.  

• END

Accra, Ghana — The Chief Executive Officer of the Minerals Income Investment Fund (MIIF), Mrs Justina Nelson, has called for deeper gender inclusion, equity, and empowerment across Ghana’s mining value chain.

She argued that a more inclusive sector will not only advance gender equity but also strengthen productivity, innovation, and governance within the country’s mining ecosystem.

Her call is therefore a push for systemic change; one that ensures women are not just present in the industry, but fully empowered to lead, influence, and thrive.

Speaking as the keynote guest, at the 10th anniversary celebration of Women in Mining Ghana (WIM Ghana) in Accra, Mrs Nelson commended WIM Ghana for a decade of “courage, resilience, and vision,” applauding the organisation for championing advocacy, leadership development, and opportunities for women in a historically male-dominated industry.

“Your work has helped shape national perceptions, amplified women’s voices, challenged stereotypes, and opened doors that were once firmly shut,” she said adding that; “MIIF salutes you.”

Drawing on the Ghana Chamber of Mines’ 2023 data, Mrs Nelson highlighted persistent gaps in women’s participation in mining.

Women account for: 9–10% of the large-scale mining workforce; 9% of contractor workforce; 10% of junior-level roles; 14% of senior positions; and 21% of professional roles

“These are interesting figures, but they are far from where we need to be,” she said.

Mrs Nelson outlined the critical challenges women continue to face in the mining industry, including inequitable earnings, gender bias, and harassment.

The MIIF CEO referenced her own experience since assuming office at MIIF since the beginning of the year.

“I have been bombarded with false publications and malicious attacks simply for putting things in their right perspective,” she told the gathering.

“I stand here today not as a victim, but as a woman who refuses to be distracted. Let us hold and defend one another for we are few at the top.”

Mrs Nelson reiterated the Fund’s commitment to ensuring an inclusive and progressive mining sector.

She mentioned the Women from Mining Communities (WoMCom) Scholarship Scheme, which supports brilliant but financially needy female STEM students.

Over 90 young women from the University of Mines and Technology (UMaT), Tarkwa, have already benefited.

MIIF will work to broaden collaboration with local and international partners to expand the scheme to universities in the middle belt and northern Ghana in 2026, depending on corporate Ghana for support.

“Our goal is to ensure that women from mining communities are not left behind in Ghana’s mineral-driven transformation,” she said.

Mrs Nelson used the opportunity to commend corporate Ghana for their support and expressed the hope that they will continue to collaborate with the Fund to uplift more women into the mining space as part of their Corporate Social Responsibility (CSR) initiatives.

MIIF also reported significant improvements in Ghana’s mineral royalty inflows for 2025, reflecting strengthened regulatory compliance and investor confidence.

Key highlights for the first three quarters of 2025 include:

• Large-scale gold mining: US$291.87 million in royalties — 40.18% increase from 2024
• Mid-tier gold operations: GH₵59.44 million — 46.38% rise
• Manganese: US$12.75 million — 170% surge
• Quarry industry: GH₵13.15 million — 13.12% growth
• Sand mining: GH₵433,406.41 — 21.48% increase

“These figures underscore strong momentum in Ghana’s mineral revenue outlook,” she stated.

Mrs Nelson urged stakeholders to build a mining sector where women are respected, safe, visible, and empowered.

“As MIIF continues to secure Ghana’s mineral revenues, we stand ready to partner with Women in Mining Ghana to champion a future where gender does not limit potential,” she said.

She congratulated WIM Ghana on its 10-year milestone, expressing hope that the next decade will bring even greater transformation for women in the industry.

• END

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