

The recently concluded MIIF Stakeholder Conference was a platform for key discussions on “Minerals Value Addition and Value Chain Development – Essential Tools for Ghana’s Development.” Held on 15th October 2024 at the Marriott Bonvoy Hotel, this second edition gathered government officials, industry experts, civil society organizations, policymakers, and media representatives to explore the potential of Ghana’s mineral resources to fuel sustainable growth.
Making Mining the First Pillar of Ghana’s Economy
MIIF’s CEO, Edward Nana Yaw Koranteng, opened the conference by presenting the Fund’s mission and vision, highlighting the fund’s strides in making mining the cornerstone of Ghana’s economy. Through strategic investments in value addition, equity growth, and localization within the mining sector, MIIF aims to create sustainable generational wealth for Ghanaians.
As charged by President Nana Addo Dankwa Akufo-Addo, MIIF’s role extends beyond funding and equity positions in mines. We are working to build a fully-fledged mining industry with investments across the mining value delivery chain, including capacity building, capital markets, commodity trading, and research and development.
Additionally, MIIF’s commitment to Environmental, Social, and Governance (ESG) principles is demonstrated through projects like “Operation Clean the Water Bodies”, a collaboration with UMAT to use advanced technology in addressing the pollution of river bodies caused by illegal mining.
Insights from the Conference
Hon. George Mireku Duker, Deputy Minister of Lands and Natural Resources, called on MIIF to accelerate development in mining communities and help establish downstream industries in these regions. He also encouraged partnerships to track mining companies’ production, ensuring appropriate royalties are paid to the state.
David Ofosu-Dorte, Senior Partner at AB & David, delivered an insightful presentation on “Minerals Value Addition and Value Chain Development”. He emphasized the need for Africa to leverage its mineral resources within global value-added supply chains, highlighting the African Union’s Agenda 2063 and the Africa Mining Vision as critical frameworks. The shift from raw mineral exports to value-added products, he noted, is essential for long-term economic benefits.
Dividend Payout Policy and Financial Independence
Edward Nana Yaw Koranteng also announced MIIF’s plans to introduce a dividend payout policy aimed at strengthening the Fund’s financial independence. This policy will ensure that MIIF remains free from government interference, a critical factor in building investor confidence and securing long-term sustainability. The strategy will also prevent arbitrary government transfers, addressing concerns faced by sovereign wealth funds globally.
Expanding the Royalties Net and Strategic Investments
MIIF is also focused on expanding the mining royalties net through a new framework agreement with the Ghana Revenue Authority (GRA) and other state agencies to ensure that mining companies comply with royalty payments. The introduction of technology to monitor production levels in quarries and gold mines is enhancing transparency and accountability in the sector.
MIIF’s strategic investments include a US$25 million investment in Injaro, a company supporting businesses within the mining supply chain, allowing local companies to compete with international firms. Additionally, MIIF is exploring investments in strategic minerals such as graphite and lithium, which are crucial in the global shift toward renewable energy.
Future Outlook
MIIF’s goal is to grow its assets to US$6 billion over the next 10 years, driven by expanding royalties, strategic investments, and value addition in the mining sector. We are confident that these efforts will position MIIF as a key player in Ghana’s economic transformation, ensuring that mining becomes the first pillar of the country’s economy.
“The future is bright for Ghana’s mineral sector. With our strategic investments and the projected growth in royalties, MIIF will remain at the forefront of Ghana’s economic development,” said Edward Nana Yaw Koranteng, CEO of MIIF.