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President John Dramani Mahama has dismissed Edward Nana Yaw Koranteng from his position as the Chief Executive Officer (CEO) of the Minerals Income Investment Fund (MIIF), effective immediately.
In a letter dated 13th January, Secretary to the President, Dr Callistus Mahama, directed Mr Koranteng to hand over his duties to the Finance Minister-designate, Dr Cassiel Ato Forson, until a replacement CEO is appointed.
The letter stated:
You are directed to hand over your duties to the President's representative at the Ministry of Finance. Hon. Dr. Ato Forson will oversee the operations of the Fund until a substantive Chief Executive Officer is appointed.
The President extends his gratitude for your service to the nation.
Edward Nana Yaw Koranteng had served as the Chief Executive Officer of the Minerals Income Investment Fund since 2021.
The Minerals Income Investment Fund (MIIF), Ghana’s minerals sovereign fund, was established to serve as a strategic lever to maximise the value-creation potential of the mining sector for sustainable national development.
The Fund’s mandate includes managing the Republic’s equity interests in mining companies, receiving dividends from these equity interests, collecting mineral royalties and related income due to the Republic from mining activities, and overseeing the management and investment of these funds.
In a related developments, President John Dramani Mahama has dismissed board members of statutory boards, corporations, commissions, and councils appointed under the former Akufo-Addo administration.
Similarly, in a letter dated 8th January, President Mahama revoked the appointments of Chief Executives of Metropolitan, Municipal, and District Assemblies (MMDCEs), as well as assembly members appointed under the former Akufo-Addo administration.