Minerals Development Fund to Boost Incomes for Development Projects

The Ministry of Lands and Natural Resources, in collaboration with the Minerals Development Fund (MDF), has organized a stakeholders’ forum under the theme: “Sustainable Mineral Wealth: Ensuring Equitable Benefits for All.”

Mining remains a major pillar of Ghana’s economy, contributing approximately 40% of the country’s foreign exchange earnings and 5.7% of its Gross Domestic Product (GDP). Gold continues to dominate the sector, accounting for over 90% of total mineral exports.

The forum aimed to foster visionary leadership focused on ensuring that mineral revenues are directly invested in mining-affected communities, traditional authorities, and local government structures to support developmental projects.

In her address, Dr. Hanna Louisa Bisiw-Kotei, Administrator of the Minerals Development Fund, commended the MDF, which was established in 2016, for its potential to transform the fortunes of mining communities. She expressed strong commitment to reviving and fulfilling the fund’s original vision under the leadership of H.E. President John Dramani Mahama, who initiated its establishment.

“The MDF was created to ensure that mineral wealth directly benefits the communities living on these resource-rich lands. Unfortunately, that vision has not been fully realized due to changes in government,” she stated.

Dr. Bisiw-Kotei expressed optimism about the future, saying, “I hold renewed hope with the return of a visionary leader who understands the purpose of this Fund. We must channel mineral revenues directly and responsibly to improve the lives of Ghanaians.”

She acknowledged the lack of significant progress over the past eight years but pledged to adopt the president’s vision to address current challenges. “The MDF can be a powerful catalyst for transformation through sustainable projects that will benefit generations to come,” she added.

Dr. Bisiw-Kotei also condemned the destructive effects of illegal mining, which continues to devastate the environment, pollute water bodies, and destroy farmlands. “My office will work closely with relevant institutions to combat illegal mining across the country,” she affirmed.

Delivering a speech on behalf of Her Excellency the Vice President, Mr. Samuel Ofosu-Ampofo, a former Minister for Local Government, highlighted the need for honest, inclusive, and practical dialogue to prevent discontent and division.

He noted, “Her Excellency believes that the true measure of national progress lies not in how much we extract from the ground, but in how many lives we uplift from poverty, how many communities we empower, and how fairly we share the dividends of our natural endowment.”

By Madjid Diallo | GhanaNewsOnline