General News Fri, 12 Apr 2019

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Minister inaugurates Minerals Development Fund Board

Minister of Lands and Natural Resources, Asomah Kyeremeh, has inaugurated an 11-member Governing Board for the Minerals Development Fund (MDF).

Members of the Board include Esther Happy Edjeani (Chairperson and President’s nominee); Addae Antwi-Boasiako, Daud Sulemana Mahama, Christina E. Bobobee, Kwame Addo-Kufuor, Daasebre Kwebu Ewusi VII.

The rest are: Ellen Ama Daaku (Minister’s Nominee), Frank A.N. Sofo, Fredua Agyeman, Eva Peace Mends.

Speaking at the inauguration ceremony held at the Lands Ministry on Thursday, April 11, 2019, in Accra, Mr. Kyeremeh observed that membership of the Board was drawn from representatives of public sector agencies whose operations were either directly or indirectly linked with the mining sector.

After administering the oaths of office and secrecy, the minister tasked the Board members to live up to expectations.

According to him, expectations of fund beneficiaries have heightened with the Fund’s operationalization.

Current revenue source to the Fund, he said, was only 20 percent, lamenting that “this is woefully inadequate to fund all the lofty ideas that the Fund aims to achieve and you must therefore work very hard to improve the funding sources by exploring other avenues to improve the fortunes of the Fund.”

He indicated that for the period that the Fund had been in operation, it had been observed that the absence of regulations to guide implementation of the Fund Act, posed a major hurdle to the successful operation of the Fund.

Minister Kyeremeh explained that “the process towards building consensus and charting a roadmap for the development of these regulations is ongoing and I urge the Board to support the process.”

The MDFAct (912) stipulates legally for a governing body, an administrator, and other staff making a corporate body to manage the Fund.

Deputy Minister of Lands and Natural Resources, Benito Owusu Bio, in a statement, indicated that MDF is mandated by law to provide financial resources for the direct benefit of mining communities nationwide.

Madam Happy Edjeani, speaking on behalf of the Board, thanked President Akufo-Addo and the Minister for the trust reposed. She assured that the Board would live up to expectations.

Source: Daily Guide Network

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