Cassiel Ato Forson merges MIIF and GIIF to create Ghana Sovereign Wealth Fund

Finance Minister Dr. Cassiel Ato Forson has announced the government’s plan to merge the Minerals Income Investment Fund (MIIF) and the Ghana Infrastructure Investment Fund (GIIF). The consolidation will establish the Ghana Sovereign Wealth Fund, a unified entity designed to centralize the management of the nation’s mineral revenues and strategic public assets. The policy was unveiled during the presentation of the 2027 Budget statement to Parliament on November 12.

The merger aims to address fragmentation in how national wealth and mineral royalties are managed. By combining the mandates of MIIF and GIIF, the government intends to enhance investment coordination and ensure higher returns on the country’s natural resource earnings. The new sovereign fund will act as a primary vehicle for reinvesting mineral royalties into diverse sectors, moving beyond the separate institutional frameworks that previously governed mineral incomes and infrastructure development.

Beyond institutional efficiency, the Ghana Sovereign Wealth Fund is expected to serve as a critical financing engine for the government’s flagship economic initiatives. Specifically, the fund will provide financial backing for the 24-Hour Economy policy and the Accelerated Export Development Programme. These initiatives are central to President John Mahama's strategy to boost industrial output and expand Ghana's footprint in international markets through value-added exports.

The transition to a unified wealth fund reflects a strategic shift toward long-term fiscal sustainability and large-scale infrastructure development. As the government moves forward with the legislative and administrative steps necessary to complete the merger, the fund is expected to provide the capital necessary for transformative national projects. The initiative signals a commitment to leveraging Ghana’s natural resource wealth to drive broad-based economic growth and industrialization.