President John Dramani Mahama has revoked the appointment of Edward Nana Yaw Koranteng as the Chief Executive Officer (CEO) of the Minerals Income and Investment Fund (MIIF), effective immediately.
The revocation, announced in a letter dated January 13, 2025, was signed by Mr Callistus Mahama, Secretary to the President.
Mr. Koranteng was appointed as CEO of the Minerals Income and Investment Fund in March 2021.
Under his leadership, MIIF pursued various initiatives aimed at optimising Ghana’s mineral revenues for economic development.
According to the letter, Mr. Koranteng is to hand over his responsibilities to the President’s representative at the Ministry of Finance.
The letter further stated that Dr. Cassiel Ato Baah Forson. will act in a caretaker capacity to oversee the fund’s operations until a substantive CEO is appointed.
The President acknowledged and expressed gratitude to Mr. Koranteng for his service to the nation during his tenure.
Background on MIIF
The Minerals Income and Investment Fund (MIIF) was established under the Minerals Income and Investment Fund Act, 2018 (Act 978), to manage and maximise Ghana’s income from mineral royalties and other related activities.
The fund seeks to enhance the country’s financial returns from its mining resources while investing in other profitable ventures to ensure long-term economic stability.
The fund is responsible for collecting royalties paid by mining companies operating in Ghana, invests in assets and projects that yield substantial returns to support Ghana’s developmental goals.
It also provides financial backing for local communities impacted by mining activities and supports national infrastructure projects.
Source: graphic.com.gh
