• 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

MIIF on path to achieving its objectives – CEO

4 years ago
in Business, highlights, Home, home-news, latest News, Mining
2 min read
0 0
0
124
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Chief Executive Officer of the Minerals Income Investment Fund (MIIF), Yaw Baah, says the fund has made significant strides in achieving the objectives for which it was set up.

Adding plans are far advanced towards increasing local investments in the management of the country’s gold assets to maximize value.

“MIIF is on the path to achieving the objectives envisaged under the Act. Per this very Act, one of the objectives of the MIIF and going by the wise words of the President is that  Ghana has reached a stage that there must be the need to encourage indigenous companies in this area”, Yaw Baah asserted at the ‘Monetization of Minerals Royalties’ Forum held on Monday.

The public event was organized at the Institute of Statistical Social and Economic Research (ISSER) of the University of Ghana on Monday, May 3, 2021.

Speaking further at the forum, Mr Baah stated that his outfit is positioning itself to change the public narrative by ensuring that Ghana’s mineral royalties are managed properly to the maximum benefit of the ordinary citizen.

“Ghana, we do well everywhere, but it appears all our gold is foreign-owned. We continue to sit on money because apart from the gold, we have other minerals of which we at MIIF are working to propel and push this to ensure that the nation achieves its objectives.”

Also present at the program were the Founder of Songhai Group, Hene Aku Kwapong, and the Director in charge of Banks, Investors, and Intermediaries at Standard Chartered Bank, Carl Odame-Gyenti.

RelatedPosts

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Hene Aku Kwapong expressed fears Ghana may not able to raise future revenue from gold production if steps are not taken to monetize the mineral resource as a long-term venture.

He said although Ghana has overtaken countries such as South Africa in the production of gold, the West African country may not enjoy the full benefit mining companies from the Southern part of Africa are at the core of the mining business in Ghana with the proceeds being sent back to their home country.

The development he explains will leave Ghana with little to no gold value thereby putting the country in a rather sorry state at least in the next five decades if a special purpose vehicle is not established to monetize the natural resource.

“Ghana is now the leading producer of gold. We have passed South Africa and other African countries which is great. But 50 years from now my biggest concern is, if we do not take care we actually may not have the opportunity to even make money from gold, because others would have monetized it, and they would have had a lot of resources left-back in their country”, he said.

The Minerals Income Investment Act, passed in 2018 was to among other things monetise the country’s mineral resources for the government’s infrastructural development.

It is also to monetize the minerals’ income accruing to the country, develop and implement measures to reduce the budgetary exposure of Ghana to minerals income fluctuations.

Tags: Ghana’s mineral royaltiesgold assetsInstitute of Statistical Social and Economic Research (ISSER)Minerals Income Investment Fund (MIIF)
No Result
View All Result

Highlights

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

RMA Demands Public Inquiry into Unibank Collapse, Slams AG’s Decision to Drop Charges

Trending

Features

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe The Ghana Airports Company Limited (GACL) has officially...

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

August 2, 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.