MIIF launches GH¢20m scholarship scheme to support 1,000 women over the next decade

The Minerals Income and Investment Fund (MIIF) has unveiled a groundbreaking GH¢20 million scholarship scheme, projected to support 1,000 women over the next decade, enhancing their participation in the mining sector.

This initiative, in collaboration with the University of Mines and Technology (UMaT), is set to challenge the male-dominated mining industry by fostering female education and representation. Edward Nana Yaw Koranteng, the CEO of MIIF, underscored the importance of human capital development at the launch event in Accra on Thursday, June 27, 2024, stating, "Investing in human capacity is crucial for breaking through barriers in the mining sector."

The scholarship program is designed to annually assist 100 deserving women from mining communities, focusing on STEM fields, particularly engineering and metallurgy. Highlighting the gender gap, Koranteng noted that women constitute only about 9 percent of the workforce in mainstream mining, with even fewer in executive roles. He emphasized that research supports the notion that greater female involvement leads to enhanced value creation within the industry.

The MIIF-UMaT Women in Mining Scholarship Scheme aligns with government policies and MIIF's objectives, aiming not only to address gender inequity but also to strategically invest in Ghana's future. Drawing parallels with the Free Senior High School initiative, Koranteng stressed the urgency of such educational investments, which cannot be postponed without negative social impacts.

Koranteng highlighted the critical role of human capital in national development, especially in natural resource management, asserting, "It is brains that develop a nation, not just resources."

He cited the contrast between resource-rich and resource-poor nations to illustrate the impact of education and human resource development on economic progress. The scholarship scheme is part of MIIF's broader educational and research initiative, with plans to expand its reach to other universities, including the University of Ghana and the University of Science and Technology, further solidifying its commitment to empowering women in mining.

On his part, the Deputy Minister for Education, Reverend John Ntim Fordjour, emphasized the government’s commitment to improving education opportunities and attaining gender equality.

According to the minister, the government of Nana Addo Dankwa Akufo-Addo, through strategic policies, has ensured gender parity in education from the primary school level to the secondary school level, while the statistics show a ratio of 1:0.96 at the tertiary level.

Other speakers, including the Minister for Gender, Children and Social Protection, Dorkoa Newman, and the Pro-Vice Chancellor of UMaT, Anthony Simons, as well as Deputy Minister for Finance, Dr Alexander Ampaabeng all underscored the need for gender empowerment in the mining sector and the opportunity the scheme presents in attaining that objective.



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