MIIF to ensure companies with equity interest remain profitable

To achieve this, the Fund plans to closely monitor these companies to ensure they adhere to their agreements with MIIF, maintain good corporate governance practices, and pursue ventures that benefit the country.

Mr. Jerry Parkes, briefing Mrs. Justina Nelson and her team during the working visit.

Mrs. Justina Nelson, Acting Chief Executive Officer of MIIF, made these remarks during a working visit to Injaro Investment Advisors Limited. The visit was part of a planned initiative to familiarize herself with the operations of all MIIF-invested companies.

Mrs. Justina Nelson (3rd from left) in a group photo with management and staff of Zeepay.

The visit also provided an opportunity for Mrs. Nelson to observe firsthand the companies in Injaro’s portfolio, which focuses on growing indigenous Ghanaian small and medium-sized enterprises (SMEs). These companies include:

-Zeepay: A well-established fintech providing digital termination of remittances, mobile money, and mobile payment services.
-Kofa Technologies Limited: Owner and manager of battery swapping infrastructure consisting of multi-use swappable batteries and swapping stations offering customers immediate access to fully charged batteries.
-DDP Outdoor Ltd: An out-of-home advertising company operating 1,500 advertising faces across Ghana.

Mr. Dela Kumahor, Vice President – Product Development at Kofa, demonstrating how the motorbikes work to Mrs. Justina Nelson and her team.

During the tour, which included several executive members, Mrs. Nelson urged the managers of the visited companies to reduce operational costs to generate appropriate profits and pay dividends to the Fund.

She also encouraged the companies to invest in the entire mining value chain, ensuring that communities where minerals are mined benefit through development initiatives and job creation.

Mr. Jerry Parkes, Chief Executive Officer of Injaro, congratulated Mrs. Nelson on her appointment as acting CEO of MIIF and committed to continued collaboration between the two institutions to elevate their partnership to the next level.

Mrs. Justina Nelson (middle) flanked by Mr. Jerry Parkes (right) and Mr. Senah Vuley, General Manager, DDP Outdoor, after the official working visit.

He stated that Injaro will continue supporting SMEs in Ghana to help them fully leverage opportunities presented by the government’s 24-hour economic policy.

Mr. Parkes emphasized that one of the company’s strategies is to invest in local companies, which helps retain profits within Ghana and prevents capital flight. He requested additional support from MIIF to enable Injaro to expand its assistance to SMEs nationwide.

During the visit, the management teams from Zeepay, Kofa, and DDP each provided comprehensive overviews of their business operations and pledged commitment to not only protecting MIIF’s investments but growing them to provide the government with additional funds for national development.

Each company outlined aggressive strategies to grow their businesses, increase profits, and pay appropriate dividends to MIIF.