MIIF surpasses GH¢5 billion in mineral royalty inflows for the first time, driven by stronger revenue mobilisation, governance reforms, and strategic partnerships.
The Minerals Income Investment Fund (MIIF) has recorded more than GH¢5 billion in mineral royalty inflows in 2025—the highest in its history—representing an almost 500 percent increase since 2020 as Ghana intensifies efforts to maximise value from its mineral resources.
According to the Fund, the milestone reflects the success of strategic reforms, improved revenue mobilisation, and stronger collaboration with institutions responsible for managing the country’s mineral revenues.
The achievement featured prominently during high-level discussions between MIIF and the International Monetary Fund (IMF) in Accra, where both parties explored strategies to strengthen Ghana’s mining sector through enhanced revenue collection, governance reforms, and the formalisation of the small-scale mining industry.
Speaking during the meeting, MIIF Chief Executive Officer Mrs Justina Nelson said the Fund’s record performance demonstrates the effectiveness of its revenue mobilisation strategy despite exchange rate fluctuations and challenging market conditions.
She attributed the growth to stronger collaboration with key institutions, including the Ghana Revenue Authority (GRA), Minerals Commission, Ghana Gold Board, and the Ghana National Association of Small-Scale Miners, aimed at improving governance and strengthening mineral royalty collection.
Mrs Nelson described the small-scale mining sector as a major opportunity for Ghana’s economic transformation, noting that ongoing formalisation initiatives are expected to broaden the country’s royalty base while improving compliance across the industry.
MIIF’s Head of Investment, Mr Ernest Attiso, said the Fund remains focused on maximising mineral royalty collections in partnership with the GRA while investing the proceeds to generate long-term value for both current and future generations.
He explained that MIIF’s strategic plan through 2028 prioritises enhanced royalty mobilisation, stronger governance, improved compliance and risk management, and continued growth in Assets Under Management (AUM).
According to Attiso, the Fund is also pursuing investment opportunities across mineral exploration, near-production assets, mineral processing and beneficiation infrastructure, small-scale mining formalisation, and royalty and streaming financing models to deepen value creation throughout Ghana’s mining value chain.
He added that MIIF remains committed to Environmental, Social and Governance (ESG) principles through initiatives such as afforestation, heritage and tourism development, and women empowerment programmes in mining communities.
The IMF welcomed MIIF’s contribution to strengthening mineral revenue mobilisation as part of Ghana’s broader fiscal reform agenda.
IMF Resident Representative Dr Adrian Alter identified fiscal discipline, debt sustainability, and domestic revenue mobilisation as critical pillars for maintaining macroeconomic stability and supporting sustainable private sector-led growth.
He also underscored the importance of greater transparency, stronger reporting standards, and improved management of fiscal risks associated with state-owned enterprises.
Dr Alter noted that although Ghana’s small-scale mining sector contributes significantly to mineral production, much of its output remains outside the formal royalty system because of informality and environmental challenges. He expressed optimism that MIIF’s ongoing formalisation efforts would help improve royalty collection while promoting more sustainable mining practices.
The discussions also reviewed Ghana’s Sliding Scale Royalty Framework, which MIIF described as a balanced mechanism that adjusts royalty payments in line with commodity price movements, protecting government revenues while maintaining investor confidence.
The engagement reflects Ghana’s broader strategy of not only attracting new mining investment but also optimising returns from existing mineral production through stronger governance, improved revenue mobilisation, and sustainable management of the country’s natural resources.
