ACEP recommends abolishing MIIF Act, calls for introduction of Mineral Revenue Management Act

The Africa Centre for Energy Policy (ACEP) has welcomed the government’s proposal to amend the Minerals Income and Investment Fund (MIIF) Act but calls for a more comprehensive review of its operations. ACEP highlights concerns over MIIF’s opaque investment strategy, poor financial decisions, and environmental risks.

Policy Lead Kodzo Yaotse advocates for a value-for-money audit of MIIF’s investments, potential prosecutions for financial mismanagement, and the replacement of MIIF with a Mineral Revenue Management Act. ACEP also criticizes the lack of transparency in MIIF’s investments, particularly the unclear use of GHS2.5 billion in mineral royalties.

Originally tied to the failed Agyapa Royalties deal, MIIF continues to receive 80% of risk-free mineral royalties, which ACEP argues should be redirected to direct socio-economic investments.