President John Dramani Mahama has revoked the appointment of Edward Nana Yaw Koranteng as the Chief Executive Officer of the Minerals Income and Investment Fund (MIIF), effective immediately.
The decision, effective immediately, was announced in an official letter dated January 13, 2025, signed by Mr Callistus Mahama, Secretary to the President.
New Leadership Transition
Mr Koranteng, who has served as MIIF’s CEO since March 2021, has been directed to hand over his responsibilities to the President’s representative at the Ministry of Finance.
In the interim, Finance Minister Dr Cassiel Ato Baah Forson has been tasked to oversee MIIF’s operations until a new CEO is appointed.
The President expressed gratitude to Mr Koranteng for his contributions during his tenure, highlighting his efforts in advancing MIIF’s mission to optimise Ghana’s mineral revenues for economic development.
MIIF’s Role and Achievements
The Minerals Income and Investment Fund, established under the Minerals Income and Investment Fund Act, 2018 (Act 978), plays a crucial role in managing Ghana’s mineral royalties and promoting economic growth.
Under Mr Koranteng’s leadership, MIIF spearheaded several initiatives aimed at maximising returns from Ghana’s mining resources while supporting infrastructure projects and providing financial backing to mining-impacted communities.
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The fund also focuses on investing in profitable ventures to ensure long-term economic stability, making it a critical player in Ghana’s developmental strategy.
Looking Ahead
The President’s decision comes at a time when MIIF’s strategic role in managing Ghana’s mineral wealth is under increased scrutiny.
The appointment of a caretaker leader in Dr Ato Forson signals a potential review of MIIF’s direction and priorities.
As Ghanaians await the announcement of a substantive CEO, stakeholders are hopeful that the leadership transition will bolster MIIF’s capacity to drive sustainable economic growth while ensuring transparency and accountability in the management of mineral revenues.
This leadership change underscores the government’s commitment to strengthening institutions pivotal to Ghana’s development agenda.
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