The Mining Investment Fund (FIM) of Guinea held its 10th ordinary session of the Board of Administration on Thursday, November 5, 2026, in Conakry. The meeting brought together participants to discuss key issues related to the governance and budget execution of the institution. They reviewed the activity report as of August 31, 2026, and analyzed the draft budget adjustment following the adoption of the Rectified Finance Law (LFR).
The session enabled the examination of several crucial files, including the activity report and the draft budget adjustment. At the end of the meeting, the President of the Board of Administration, Aboubacar Kagbè Touré, summarized the discussions. He welcomed the progress made in resource mobilization for the 2025 and 2026 financial years and the overall control of expenses. However, he noted a low budget execution rate, which fell short of expectations.
According to Aboubacar Kagbè Touré, the low budget execution rate is attributed to the slowness of public procurement procedures. He explained that despite significant efforts in resource mobilization and expenditure execution, the rate is not entirely satisfactory. The President of the Board of Administration urged the general management to work closely with the competent technical services of the administration to accelerate the finalization of files and ensure the realization of planned works.
Aboubacar Kagbè Touré emphasized the importance of administrative rigor and development prospects. He highlighted that the Fund's performance is measured by its ability to absorb resources and execute projects within the adopted budget. The President also stressed the need for greater speed in project execution while ensuring strict compliance with procedures.
In response to questions about the pace of disbursements, Aboubacar Kagbè Touré defended the imperative of legal compliance while calling for greater speed in project execution. He acknowledged that disbursements may seem slow in some areas due to the strict respect of procedures. Nevertheless, the Board invited the general management to accelerate the processing of files within the circuit to ensure the execution of projects within the deadlines.
To consolidate the achievements of the Fund and optimize its impact on the development of the Guinean mining sector, the Board of Administration is counting on reinforced inter-ministerial work. Aboubacar Kagbè Touré expressed his conviction that with the support of the Ministry of Mines and the Ministry of Economy and Finance, the objectives of the Mining Investment Fund will be achieved.
The Mining Investment Fund's 10th ordinary session of the Board of Administration concluded with a clear message: the need for greater efficiency in project execution and resource absorption. The Fund's management has been urged to work closely with relevant technical services to accelerate project implementation and achieve the set objectives.
Key points
- The Mining Investment Fund (FIM) of Guinea held its 10th ordinary session of the Board of Administration on November 5, 2026.
- The session reviewed the activity report as of August 31, 2026, and analyzed the draft budget adjustment.
- The President of the Board of Administration, Aboubacar Kagbè Touré, emphasized the need for greater speed in project execution while ensuring strict compliance with procedures.
