MIIF Board Pledges Commitment to Fund’s Mandate at Strategic Retreat

By Samuel Fianko 

The Board Chairman of the Minerals Income Investment Fund (MIIF), Mr. Richard Kwame Asante, has reaffirmed the Board’s unwavering commitment to ensure that the Fund operates strictly within its mandate as established by the governing Act.

Speaking at the second MIIF Board/Management Retreat held in Accra from July 11-13, 2025, Mr. Asante assured management and staff of the Board’s readiness to provide essential resources, counselling, and guidance to enable seamless discharge of duties.

Mr Richard Kwame Asante (seated middle), Board Chairman, Mrs. Justina Nelson (seated 3rd from right), and other board members on the front row in a picture with MIIF management and other stakeholders.

Strategic objectives of the retreat

The three-day retreat was designed to serve two critical purposes:

Enhanced Understanding: To deepen the Board’s comprehension of the Fund’s operations through comprehensive departmental presentations and stakeholder insights.

Strengthened Collaboration: To reinforce the collaborative relationship between the Board and Management.

Mrs. Justina Nelson, clarifying some issues during the 2nd day’s session . With her are some Board Members.

Key stakeholder participation

The retreat featured presentations from some key stakeholders of the Fund who provided valuable insights into their relationships with MIIF, including:

– State Interest and Governance Authority (SIGA)

– Public Procurement Authority (PPA)

– PricewaterhouseCoopers (PwC)

– Deloitte

Commitment to financial excellence

Mr. Asante commended management for their commitment to professionalism and strict financial adherence.

Referencing the Fund’s first-half 2025 financial performance as presented by the Chief Executive Officer of the Fund, Mrs Justina Nelson, in her presentation on the ‘MIIF journey so far’, he stated: “Our financial performance for the first half of 2025 has been encouraging, and we will ensure that we maintain this momentum in our quest to ensure that the good people of Ghana benefit significantly from their mineral resources.”

The Board Chairman noted that prudence across all operational fronts would be a cornerstone of the Board’s approach, noting: “We will be guided by the lessons of the past to chart a more positive path in accordance with the Fund’s mandate.”

Mr. Asante said the Fund would strive for greater excellence while utilizing knowledge gained during the departmental presentations to strengthen the Board’s ability to help fulfill MIIF’s core mandate:

  1. Maximize minerals income receipts
  2. Monetize the minerals income
  3. Develop and implement measures to reduce budgetary exposure to commodity price fluctuations

Leadership recognition and support

The Board commended Mrs. Nelson and her management team for the progress achieved to date, pledging continued support toward achieving the Fund’s mission, and for the organization of the retreat.

They also urged Staff to rally behind management for the greater good of the institution and the nation.

Some members of the Board interacting with stakeholders of the Fund.

Way forward

Looking ahead, the Board reaffirmed their commitment to supporting the Fund’s initiatives to position MIIF as a catalyst for national development and positive change.

Mrs. Nelson expressed appreciation to the Board for their demonstrated commitment and pledge to help chart a positive path for the Fund to achieve its mandate.

She emphasized that management and staff stand ready to work closely with the Board to make a great impact.

The retreat concluded with renewed commitment from both Board and Management to work collaboratively toward fulfilling MIIF’s strategic objectives and maximizing benefits for the Ghanaian people from the country’s mineral resources.