President Mahama Revokes MIIF CEO Edward Koranteng’s Appointment

President John Dramani Mahama has officially revoked the appointment of Edward Nana Yaw Koranteng as Chief Executive Officer (CEO) of the Minerals Income Investment Fund (MIIF).

The decision, which was communicated in a letter dated Monday, January 13, 2025, instructs Koranteng to vacate the position immediately and hand over the responsibilities to the newly appointed Finance Minister-designate, Dr. Ato Forson.

MIIF, an essential institution established to manage the country’s mineral wealth, plays a pivotal role in ensuring the sustainable use of Ghana’s mineral income for the benefit of its citizens.

Its mandate includes the transparent, accountable, and responsible management of the country’s mineral revenues, as well as the development of strategies to mitigate budgetary risks caused by fluctuations in mineral income.

The abrupt removal of Koranteng, who had been overseeing MIIF’s operations, raises questions about the future direction of the fund under Dr. Forson’s leadership.

As the new Finance Minister-designate, Forson is expected to bring a fresh perspective to the role, with a focus on enhancing MIIF’s capacity to meet the country’s growing financial needs.

The revocation of Koranteng’s appointment is part of broader changes that are taking place in Ghana’s leadership as President Mahama continues to restructure various institutions to improve efficiency and ensure alignment with national priorities.

As of now, further details about the reasons behind the decision remain unclear.

However, the move is expected to draw attention, especially in relation to the management of the country’s mineral resources, a critical area for Ghana’s economic development.