Ghana’s strategy for managing natural resources was prominently featured at a high-level meeting in Washington on Tuesday, October 14, where Finance Ministers from five African nations praised the country’s innovative GOLDBOD model as a standard for resource-driven development throughout the continent.
The meeting, which took place alongside the 2025 IMF–World Bank Annual Meetings, convened Finance Ministers from Ghana, Liberia, Sierra Leone, The Gambia, and Sudan for strategic discussions with Dr. Sidi Ould Tah, the President of the African Development Bank (AfDB) Group.
Among the various topics on Africa’s development agenda, the dialogue surrounding natural resource management was particularly noteworthy, with Ghana’s GOLDBOD receiving special commendation and focus.
Numerous ministers lauded the initiative for its effectiveness in transforming Ghana’s utilization of its gold resources to foster economic growth, enhance exchange rate stability, and promote sustainable development.
They remarked that the model signifies a substantial departure from conventional methods, illustrating how African countries can extract greater value from their natural assets.
Several nations within this AfDB constituency expressed keen interest in implementing similar strategies to boost transparency and improve resource governance within their own economies.
The Ghana Gold Board (GOLDBOD) serves as the sole authority with the exclusive mandate to purchase, sell, weigh, grade, assay, value, and export gold and other precious minerals in Ghana.
Functioning under the oversight and supervision of the Ministry of Finance, GOLDBOD is pivotal in regulating the sector and ensuring that the exploration of Ghana’s mineral resources directly contributes to the nation’s development.
