Govt to merge MIIF and GIIF into Ghana Sovereign Wealth Fund to support 24-hour economy

The Government will merge the Minerals Income Investment Fund (MIIF) and the Ghana Infrastructure Investment Fund (GIIF) to establish a Ghana Sovereign Wealth Fund.

The proposed fund is intended to improve investment coordination, enhance returns and provide equity financing for major development projects.

Dr Cassiel Ato Forson, Minister of Finance, announced the proposed merger when he presented the 2027 Budget Statement and Economic Policy to Parliament on Thursday.

He said the country's existing investment arrangements were fragmented, making coordination and long-term planning difficult.

“The Fund will improve investment origination and coordination, increase returns and finance transformative projects,” he said.

Dr Forson said the new fund would also serve as an equity partner for projects under the 24-Hour Economy and Accelerated Export Development Programme, a private sector-led initiative.

He said it would help identify viable investments, attract private capital and strengthen the programme's implementation.

The GIIF mobilises private capital for national infrastructure projects, while the MIIF manages and invests the country's mineral royalties and state equity interests to build long-term sovereign wealth.

The proposed merger forms part of structural reforms outlined in the 2027 Budget to improve the management and investment of public resources.

GNA