President Nana Addo Dankwa Akufo-Addo on Friday inaugurated the board of the newly established Minerals Income Investment Fund (MIIF), with a charge on the body to leverage its financial might to raise strong local players in the mining sector.
He said that it was not encouraging that after a century of mining in the country, there was no significant local player in the sector, stressing that it was of the essence that the Board provided support to indigenous companies to compete favourably with international corporations who dominate the industry.
“It shouldn’t be the case that Newmont, Anglogold Ashanti and all these others are the only players in the Ghanaian industry,” he said when he addressed the nine-member Board after swearing them into office at a short ceremony at the Jubilee House in Accra.
“Hopeful this fund, when properly managed and selectively invested, will over the period of time erase that image and give us a new architecture in the mining industry which included; significant Ghanaian players,” he said.
Chaired by George Mireku Duker, the board include, Chief Executive Officer of the MIIF, Yaw Baah, Representative of the Ministry of Finance, Mrs. Felicia Ashley, Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari and the Commissioner for Domestic Tax Revenue Division of GRA, Amiishadai Owusu – Amoah.
The others are, Naana Dufie Addo, President’s nominee, Kow Essuman, President’s nominee, and Mrs. Antoinette Kwofie, also a nominee of the President. The ninth member is yet to be appointed.
President Akufo-Addo reminded the Board that the Fund could be a critical step in the development and transformation of the Ghana’s economy, indicating to the body that it held the Fund in trust for the people of Ghana
“These monies belong to the people of Ghana and they are counting on you to use it judiciously, prudently and also with some imagination…The operation of this fund could be a critical step in the development and transformation of our economy,” he stated.
Mr. Duker thanked the President for appointing to the board and assured that they would work to justify the confidence reposed in them.
GNA
