The Minerals Income and Investment Fund (MIIF) has unveiled a GH¢20 million scholarship scheme designed to empower women in mining communities.

This initiative, launched in collaboration with the University of Mines and Technology (UMaT), aims to boost female participation in the predominantly male-dominated mining industry.

At the launch event, MIIF CEO Edward Nana Yaw Koranteng highlighted the crucial importance of investing in human capital alongside financial investments in the mining sector.

He emphasised that empowering women through education and training is vital for the industry's growth and sustainability.

“We believe that just investing in equity, investing in the value chain etc. without investing in human capacity or human development will really just take us nowhere; you know, we hit a wall at a point in time,” Mr Koranteng stated.

The scholarship programme aims to support up to 100 women annually from needy families in mining communities, focusing on bright students pursuing STEM courses – particularly in engineering and metallurgy.

This initiative is part of MIIF’s broader strategy to align human resource development with government policies and the fund’s objectives.

“There’s a huge gender disparity. If you look at mining, for example, you have just about 9 per cent of women in mining, especially when it comes to mainstream mining. You look at the C-suite of mining, it’s even less than 9 per cent,” he added.

Research indicates that increased female participation in the mining sector leads to greater value creation. Mr Koranteng underscored this point, stating, “Research shows that the more you invest in women and have them in the sector, the more value is created for the industry.”

The MIIF-UMaT Women in Mining Scholarship Scheme aims to address gender inequity while also serving as a strategic investment in Ghana’s future.