The Minerals Income Investment Fund (MIIF) has targeted GH¢9 billion in royalties by the end of this year, its Chief Executive Officer (CEO), Justina Nelson, has said.
This follows the collection of GH¢5.3 billion royalties for the first half of 2026, compared with GH¢2.6 billion collected for the same period last year, she explained.
The fund’s royalty performance for the year 2025 was GH¢5.4 billion as against GH¢4.9 billion in 2024.
Mrs Nelson said this when the Chief Justice, Paul Baffoe-Bonnie, led a delegation of members of the Judiciary and the Ghana School of Law on a working visit to the Minerals Income Investment Fund (MIIF), in Accra, last Wednesday.
The visit sought to strengthen institutional collaboration and deepen engagement between the Judiciary and MIIF on matters of mutual interest.
The delegation engaged the board, management and staff of MIIF.
Context
The fund was established under the Minerals Income Investment Fund Act, 2018 (Act 978), but its mandate was amended in April last year.
A new law, the Minerals Income Investment Fund (Amendment) Act, 2025 (Act 1137), amended to Act 978, drastically reduced the fund's allocation of minerals royalties and dividends income, accruing from the 10 per cent free carried interest in mining companies, from 77.6 per cent and 100 per cent, respectively in 2024 to two per cent in 2025, a reduction of more than 98 percentage points in a single year.
In spite of that, the fund achieved 186.1 per cent of its first half 2026 target, hence the target for GH¢9 billion for the year.
Income
On the fund’s revenue performance, she said MIIF had recorded an improvement in its collections.
She said the fund’s audited accounts showed GH¢1.1 billion profit in 2025, though it was now entitled to two per cent of the royalties collected.
“We exceeded the GH¢1 billion mark,” she said.
Mrs Nelson said the mandate of MIIF included assisting the government in mobilising royalties due the republic, in collaboration with the Ghana Revenue Authority (GRA) and monetising royalties where necessary to support the government in addressing budgetary shortfalls.
She said the investment wing of MIIF invested in the mineral and mining value chain through equities, alternative investments and fixed income, with the aim of generating more revenue for the state for the present and future generations.
Commendation
The Chief Justice commended MIIF for its performance, particularly its ability to generate substantial resources from the two per cent allocation of mineral resources.
He said the performance showed that the fund was making efficient use of the resources available to it.
Justice Baffoe-Bonnie urged the management of MIIF to continue with its efforts and the collaboration with other agencies to continue its good work.
“So, whatever you have been doing, do it better.
If it is a matter of working together, continue. And if it is the choice of integrity, continue,” he said.
“If it is the fact that you want to leave a legacy, continue.
There is a lot that we can achieve by way of collaboration,” the Chief Justice added.
Judiciary, investment
Justice Baffoe-Bonnie said economic development depended largely on an effective judicial system.
He said investors were more likely to invest in countries where there was peace and an enabling environment, including a legal regime and a judiciary capable of properly handling contractual and other disputes.
“You can be certain that your investment is safe if the legal regime and the advocacy in the country are on an even keel,” he said.
The Chief Justice, therefore, said the judiciary had to move beyond merely sitting to write judgments to becoming involved in issues that affected society.
Justice Baffoe-Bonnie said it was in line with this that efforts were being made to improve public confidence in the judiciary so that people would resort to the courts rather than mob justice.
He said the reforms were necessary because crimes had gone beyond petty offences to include cross-border crimes and complex financial and economic transactions.
As such, during judicial vacations, emergency cases would continue to be heard.
He said one of the reasons for his institutional engagements was to build public confidence in the Judiciary so that people would resort to the courts rather than mob justice.
Illegal mining
The Board Chairman of MIIF, Richard Kwame Asante, said the fund’s mandate carried an important responsibility to ensure that Ghana derived lasting value from its mineral resources.
He stressed the importance of prudent management, integrity and accountability, and welcomed closer collaboration between MIIF and the Judiciary in support of the national development agenda.
Mr Asante said the fund was following keenly the Chief Justice’s reform agenda, particularly the establishment of specialised courts in relation to illegal mining.
The MIIF Board Chairman said the fight against illegal mining required the involvement of all stakeholders, and that sustainable mining required strong institutions, regulation, accountability and the rule of law.
