• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

ACEP Recommends Abolishing MIIF Act, Calls for Introduction of Mineral Revenue Management Act

7 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets, Mining
1 min read
0 0
0
113
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

ACEP Recommends Abolishing MIIF Act, Calls for Introduction of Mineral Revenue Management Act

The Africa Centre for Energy Policy (ACEP) has welcomed the government’s proposal to amend the Minerals Income and Investment Fund (MIIF) Act but has also recommended a more comprehensive review of the Fund’s operations, citing concerns over its opaque investment strategy, suboptimal financial decisions, and significant Environmental, Social, and Governance (ESG) risks.

Kodzo Yaotse, Policy Lead for Petroleum & Conventional Energy at ACEP, has emphasized the need for greater transparency and accountability in MIIF’s operations, stressing that a value-for-money review of all existing MIIF investments is essential.

ACEP’s Recommendations for Reform

In its 2025 budget highlights, ACEP has proposed key measures to address governance and financial management issues within MIIF. These include:

  • Conducting a comprehensive value-for-money audit of all MIIF investments, with Fund managers held accountable and prosecuted if found responsible for financial losses.
  • A firm government commitment to abolish the MIIF Act and disband the Fund, redirecting mineral royalties to direct socio-economic investments.
  • The introduction of a Mineral Revenue Management Act, similar to the Petroleum Revenue Management Act (PRMA), to govern mineral revenue expenditure transparently rather than relying on allocations from the Consolidated Fund.

Concerns Over MIIF’s Investment Strategy

ACEP has raised alarms over MIIF’s lack of transparency regarding its investment portfolio. While the Fund has publicly disclosed a $20 million investment in Asante Gold Corporation, there is little information on the GHS2.5 billion in mineral royalties it has received so far. This, according to ACEP, is deeply concerning given Ghana’s fiscal challenges and the urgent need for socio-economic investments to improve citizens’ welfare.

RelatedPosts

Gold Price Falls by Most in Over a Decade as Rally Cools

Businesses Flock to Ethiopia’s Newly-Opened Banking Market

Among Africa’s Top Performing Currencies — the Zambian Kwacha

The MIIF was initially created to support the now-defunct Agyapa Royalties deal, which faced widespread opposition and was ultimately rescinded. Despite this, ACEP notes that the government has continued to allocate 80% of risk-free mineral royalties to MIIF for discretionary investments—resources that could have otherwise supported national development priorities.

Call for Policy Reform

With the government considering amendments to the MIIF Act, ACEP is urging policymakers to take decisive action to enhance transparency and accountability in mineral revenue management.

Strengthening governance frameworks, improving investment oversight, and ensuring mineral revenues directly benefit Ghanaians remain key priorities for sustainable economic development.

Tags: ACEPACEP Welcomes MIIF Act Amendment; Makes Recommendations for Improved OperationsMIIF

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

PIAC Urges Increased Investment in Petroleum Sector as Ghana Projected to Capture 20% of West Africa’s $80bn Oil and Gas Market by 2033

BoG Reviewing Consumer Recourse Mechanism to Address Gaps in Complaint Redress System, Says 2nd Deputy Governor

A Look at the Opportunities and Challenges as North America Gears Up for the 2031 Women’s World Cup

Black Stars Nominated for National Team of the Year at 2025 CAF Awards

Parliament to Hold Special Hearings on Extractive Industries’ Impact on Jobs and National Development

Ghana’s Economy Ranked Among 14 African Economies at High Risk of Short-Term and Commercial Vulnerability

Trending

Features

Gold Price Falls by Most in Over a Decade as Rally Cools

October 22, 2025

Gold Price Falls by Most in Over a Decade as Rally Cools Gold prices fell by the...

Businesses Flock to Ethiopia’s Newly-Opened Banking Market

October 22, 2025

Among Africa’s Top Performing Currencies — the Zambian Kwacha

October 22, 2025

PIAC Urges Increased Investment in Petroleum Sector as Ghana Projected to Capture 20% of West Africa’s $80bn Oil and Gas Market by 2033

October 22, 2025

BoG Reviewing Consumer Recourse Mechanism to Address Gaps in Complaint Redress System, Says 2nd Deputy Governor

October 22, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.