The Minerals Income Investment Fund (MIIF) says it is committed to transparency and accountability in managing Ghana’s mineral revenues, emphasizing how clarifications on its governing legislation, Act 1137, can support royalty education and compliance across the mining sector.
Chief Executive Officer Mrs. Justina Nelson, speaking at the Fund’s Editors’ Forum in Accra, said the engagement was intended to “enhance public understanding” of the Fund’s mandate and operations.
The forum, part of MIIF’s structured stakeholder engagement strategy, focused on provisions under the Minerals Income Investment Fund Act, 2018 (Act 978), as revised by Act 1137. Mrs. Nelson explained that the amendments “reinforce accountability, sharpen oversight,” and strengthen MIIF’s ability to convert mineral royalties into sustainable national wealth, providing clear guidance to mining operators on their obligations.
MIIF emphasized that timely and accurate reporting of royalties and dividends is essential. Mrs. Nelson noted that public misperceptions often arise from the timing of dividends from mining companies, which may vary across the fiscal year. She further stressed that MIIF cannot release unaudited management accounts, with disclosures needing to be “reliable and verifiable” before publication.
The Fund believes that educating stakeholders on these rules is a critical step toward fostering compliance. Clarifying legal provisions and operational procedures is a critical step for MIIF to encourage mining companies and other actors in the sector to meet their royalty obligations, supporting compliance and ultimately contributing to the broader development of the nation.
Mrs. Nelson concluded that MIIF remains dedicated to transforming Ghana’s mineral wealth into long-term national assets while fostering constructive engagement with both the media and industry stakeholders to strengthen transparency, compliance, and accountability.
