MIIF to extend investment in home-grown Ghanaian companies

THE Minerals Income Investment Fund (MIIF) is exploring opportunities to extend its investments in homegrown Ghanaian companies.

This is expected to generate significant returns for the government and strengthen the local mining sector.

“Our setup is to be able to collect mineral royalties, as well as do investments. We would stay within our mandate. However, to expand the Fund, just like any other sovereign fund worldwide, we would identify good fully home-grown mining companies and acquire equity stakes in them,” the acting Chief Executive Officer (CEO) of MIIF, Justina Nelson, said.

She revealed this in an interview with the media on the sidelines of an event organised by the Fund to mark this year’s International Women’s Day last Friday in Accra.

This year's event was on the theme: "For ALL Women and Girls: Rights, Equality, Empowerment". It brought together female staff of MIIF to celebrate the achievements of women, discuss gender equality in the corporate and mining sectors and explore ways to empower more women and girls for sustainable development.

She affirmed MIIF’s continuous commitment to acquire equity stakes in various mining companies, including Atlantic Lithium, which is yet to have parliamentary approval, Asante Gold Corporation and Electrochem Ghana Limited.

Mrs Nelson added that the Fund was exploring opportunities to commensurate investments in commercial banks to maximise returns on the bank’s investments.

The CEO further mentioned that there were ongoing discussions with stakeholders regarding amendments to Act 978 to increase the Fund’s capacity for further expansion and to enhance its contributions to the national economy.

Empowering women in mining

Speaking of the Fund’s efforts to bridge the gender gap in education, particularly in mining communities, she said MIIF was expanding its Women in Mining Communities (WomCom) Scholarship scheme.

She explained that the scholarship scheme will extend the programme beyond its initial goal of 1,000 female students, with additional university partnerships beyond the University of Mines and Technology (UMAT) in Tarkwa, where the first 41 scholarship recipients began their studies in the 2024/2025 academic year.

This strategic growth, she said, forms part of the Fund’s effort to increase educational opportunities for women to achieve academic excellence, which would help bridge the gender gap in the mining sector and create a more diverse and inclusive workforce.

She said the Fund was committed to closing the gender gap in the mining sector, where women remain underrepresented despite their potential contributions.

“Our goal is to ensure that more women, especially those from mining communities, have access to the tools, resources and support they need to succeed.

Empowering women and girls is not just a moral obligation, it is an economic imperative. Studies confirm that investing in women's education and economic participation strengthens economies and builds more inclusive communities,” she said. 

More inclusive policies

For her part, the President of Women in Mining Ghana, Dr Georgette Barnes Sakyi-Addo, called for more inclusive policies to improve gender diversity and ensure equitable opportunities in the mining sector.

She explained that despite some progress made, women continue to face significant challenges, including unconscious bias in hiring, lack of recognition for leadership roles, harassment in a male-dominated environment and infrastructure designed primarily for men.

“For artisanal miners, the situation is even more precarious, with serious health risks from chemical exposure, which needs immediate intervention.

We have made strides, but we still have a long way to go. The goal is not just to participate, but to lead in shaping the future of mining for generations to come," she said.