Ghana’s President Removes MIIF CEO Amid Strategic Overhaul

President Mahama (Left) & Edward Nana Yaw Koranteng (Right)

Ghana's President John Dramani Mahama has removed Edward Nana Yaw Koranteng from his position as Chief Executive Officer of the Minerals Income and Investment Fund (MIIF), effective immediately, according to an official letter dated January 13, 2025.

The announcement, communicated through a formal letter signed by Dr. Callistus Mahama, Secretary to the President, marks a notable change in the leadership of one of Ghana's crucial financial institutions. The MIIF plays a vital role in managing the nation's mineral resource revenues and investments.

During this transition period, Hon. Dr. Ato Forson has been designated to oversee the Fund's operations until a permanent Chief Executive Officer is appointed. The letter directs Mr. Koranteng to transfer his responsibilities to the President's representative at the Ministry of Finance.

This development comes at a time when Ghana's mining sector continues to be a significant contributor to the national economy. The MIIF's management of mineral royalties and investments has been central to the government's strategy for maximizing returns from the country's natural resources.

The letter, issued from the Office of the President at Jubilee House in Accra, includes formal acknowledgment of Mr. Koranteng's service to the nation, though it does not specify the reasons for the leadership change. The decision has been communicated to key government officials, including the Vice President and the Chief of Staff.

Letterhead: Revocation of Appointment as CEO of MIIF

This transition in leadership at the MIIF could signal potential changes in the management approach to Ghana's mineral resources and investments. Stakeholders in Ghana's mining sector will likely be watching closely to see how this change might affect the fund's strategic direction and operational policies.

The timing and immediate effect of this decision underscore its significance within Ghana's broader economic governance framework. As the search for a substantive CEO begins, the interim leadership under Dr. Ato Forson will be crucial in maintaining the fund's operational continuity and strategic objectives.