MIIF investments to benefit present, future generations – Justina Nelson

The Chief Executive Officer (CEO) of the Minerals Income Investment Fund (MIIF), Mrs Justina Nelson, has reaffirmed the Fund’s commitment to prudently manage and invest mineral royalties to benefit both present and future generations, in line with its mandate.

She noted that, as a sovereign fund established to create wealth from mineral royalties, every investment decision is guided by careful analysis and strategic assessment to ensure optimal value is derived.

Madam Nelson made these remarks when a high-level delegation from Universal Merchant Bank (UMB), led by its CEO, Dr Philip Oti-Mensah, paid a courtesy visit to her office.

The visit aimed to foster stronger collaboration between the two institutions, explore areas of mutual interest, and leverage their respective strengths to contribute to national economic growth.

On MIIF’s core mandate, she noted that the Fund was established to: Manage and invest mineral royalties and related income on behalf of the state; Maximize the long-term value of Ghana’s mineral wealth for current and future generations; and Support the development of the country through strategic investments.

Following amendments to some portions of the Minerals Income Investment Fund Act (2018), Act 978, now amended by Act 1137, the Fund no longer receives 77.6% of mineral royalties and dividends. Instead, it currently receives only 2%, earmarked specifically for operations and investments.

“The recent legislative amendments have reshaped MIIF’s financial structure as well as the strategy of the Fund. Although we now receive less of what we were used to, MIIF remains fully committed to contributing meaningfully to Ghana’s development,” she assured.

Mrs Nelson said MIIF is positioned to ensure that its equity investments across various sectors of the economy deliver value to the Fund, while also exploring additional income-generating opportunities with mining companies and within the broader investment landscape.

She commended UMB’s new management team for the progress made in repositioning the bank and reaffirmed MIIF’s willingness to collaborate with the bank in areas of mutual interest to promote institutional growth and broader economic development.

For his part, Dr Oti-Mensah praised Mrs Nelson for her visionary leadership and unwavering dedication to building the Fund and national development.

He also acknowledged the MIIF CEO’s remarkable efforts in elevating the profile of MIIF since she took office and expressed the hope that the two institutions can work together to advance the course of Ghana.

The engagement with UMB is part of a broader series of strategic initiatives championed by the MIIF CEO to build strong partnerships with both public and private sector institutions to accelerate Ghana’s growth agenda.