Ghana’s Minerals Income Investment Fund (MIIF) has been reconstituted with a new Board of Directors, following the inauguration of the governing body by Finance Minister Dr Cassiel Ato Forson at a ceremony in Accra.
The move comes amid renewed focus on mineral sector reforms and follows notable progress under the country’s gold purchase initiative, Goldbod.
Dr Forson revealed that Ghana earned over $1.1 billion in foreign exchange during the first full month of Goldbod operations. This, he noted, resulted from the purchase and export of more than 11 tonnes of gold—a development he described as a major milestone in efforts to stabilise the cedi and deepen Ghanaian participation in the precious metals trade.
“This is a clear demonstration of the value that can be realised when our mineral wealth is properly structured and managed. MIIF must align with this new vision,” the Finance Minister stated.
Addressing the newly appointed board, Dr Forson stressed the need for MIIF to return to its core mandate—investing Ghana’s mineral revenues responsibly and transparently to deliver long-term national value. He criticised what he called “severe mismanagement” of the Fund between 2019 and 2024, which led the government to withhold financial support.
“We saw significant abuse of public resources. That era must not be repeated. If the board restores discipline and puts resources to proper use, government will reconsider its stance,” he cautioned.
Dr Forson reaffirmed the government’s commitment to intensifying collaboration with both MIIF and Goldbod to expand Ghana’s gold purchase programme and build stronger national gold reserves. He also urged MIIF to lead efforts to boost Ghana’s equity stakes in mining operations, while promoting local content and value addition across the mineral value chain.
As part of broader reforms, he announced a renewed crackdown on illegal mineral exports, stating that strict oversight would be enforced to ensure that “no precious mineral leaves the country without due process and benefit to the state.”
New MIIF Board Members
The newly appointed MIIF Board is chaired by Mr Richard Kwame Asante. The full list of members includes:
- Mr Richard Kwame Asante – Chairperson
- Ms Justina Amiorkor Nelson – Member
- Ms Berl Yaa Asantewaa Asante – Member
- Ms Mawusi Ama Mawuenyefia – Member
- Mr Yakubu Mohammed – Member
- Mr Alfred Okoe Vanderpuije – Member
- Mr Robert Wisdom Cudjoe – Member
- Mr Edward Appenteng Gyamerah – Member
- Dr Zakaria Mumuni – Member
Speaking on behalf of the board, Mr Asante pledged their commitment to restoring public confidence in MIIF and ensuring the institution plays a central role in Ghana’s mineral development agenda. He assured the public that the board would operate in line with national development priorities and uphold principles of transparency and accountability.
