I’m pleased to announce that Ghana has earned over $1.1 billion in foreign exchange from the purchase and export of more than 11 tonnes of gold—just one month after the Goldbod initiative commenced full operations.
This is a major milestone in our efforts to strengthen the cedi, build reserves, and increase local participation in the gold trade.
At the inauguration of the new Board of the Minerals Income Investment Fund (MIIF), I urged the incoming leadership to sustain this momentum.
MIIF was created to strategically invest Ghana’s mineral wealth—but between 2019 and 2024, its operations were marred by poor governance and resource mismanagement. That must change.
Until a clear turnaround is evident, government has reduced financial flows to MIIF. However, if the new Board—under the leadership of Mr. Richard Kwame Asante—restores discipline and focus, we will re-engage fully.
Ghana must not only mine gold—we must own a stake in it.
MIIF must pursue significant equity in mining ventures and ensure Ghanaian businesses benefit meaningfully from our natural resources.
We are also stepping up anti-smuggling operations to curb the unaccounted export of precious minerals.
Earlier today, I had the honour of inaugurating the new Board of Trustees of the Social Security and National Insurance Trust (SSNIT).
This is a very important board. SSNIT is an institution we will all need one day—when we retire.
I used the occasion to raise concerns about some past investment decisions and strongly advised: Please do not sell state assets to politicians. The President will not accept it—and as your sector Minister, I will be the first to oppose it.
I also encouraged the Board to diversify SSNIT’s portfolio.
I’m pleased to inform the public that government is current on all payments due SSNIT, and the Ministry of Finance remains committed to honouring our obligations to the Fund.
Congratulations to Nana Ansah Sasraku III and all members of the new Board.
The task ahead is enormous, but I am confident in your resolve to manage Ghana’s pension assets with discipline and care.
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