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President John Dramani Mahama has removed Edward Koranteng from his position as Chief Executive Officer of the Minerals Income Investment Fund (MIIF).
The decision was communicated in a letter dated January 13, 2025, signed by the Secretary to the President, Dr. Callistus Mahama.
Finance Minister-designate Dr. Cassiel Ato Forson has been directed to oversee the fund’s operations until a new CEO is appointed.
“I write to formally inform you that H.E. John Dramani Mahama has revoked your appointment as the Chief Executive Officer of the Minerals Income and Investment Fund, effective immediately.
“You are directed to hand over your duties to the President’s representative at the Ministry of Finance. Hon. Dr Ato Forson will oversee the operations of the Fund until a substantive Chief Executive Officer is appointed,” parts of the letter read.
“The President extends his gratitude for your service to the nation,” the letter concludes.
The MIIF, established under the Minerals Income Investment Fund Act, 978 (as amended), is a sovereign minerals fund tasked with maximizing the value of dividends and royalties accruing to Ghana.
The fund’s mandate includes ensuring accountability and sustainability while leveraging Ghana’s mineral resources to create long-term national value.
Notably, MIIF owns 100% of Agyapa Royalties Company, Africa’s only state-owned gold royalties company.
