The Special Prosecutor, Kissi Agyebeng, has launched an investigation into suspected corruption and related offences within the operations of the Minerals Income Investment Fund (MIIF).
He raises concerns over financial mismanagement in the country’s sovereign minerals fund.
Addressing the press last week, Agyebeng disclosed that the probe would scrutinize payments tied to several high-profile projects and transactions.
These include MIIF’s dealings with Agyapa Royalties Limited, the Small-Scale Mining Incubation Programme (SSMIP), the Quarry Value Addition Programme (QVAP), Asante Gold Corporation, ElectroChem Ghana Limited, the Lithium Asset Project, Gold Asset 2 (Enchi Gold Project) and other investments under the fund’s portfolio.
The inquiry will also examine expenditures related to the MIIF board chairman, operational funds, land acquisition for an office building and the fund’s contractual agreements and publications.
Notably, two former and two current MIIF officials—whose names were not disclosed—are key subjects of the investigation.
MIIF, established under the Minerals Income Investment Fund Act 978 (as amended), is tasked with maximizing the value of Ghana’s mineral royalties and dividends in a transparent and sustainable manner.
It also owns 100% of Agyapa Royalties Company, Africa’s only state-owned gold royalties entity.
The unfolding investigation could have far-reaching implications for the governance and accountability of resource-backed investments as Ghana’s mineral wealth becomes increasingly central to economic policy.
