Finance ministers from five African countries have praised government’s strategy for managing the country’s gold resources.
This was revealed during a high-level meeting with the African Development Bank (AfDB) in Washington recently, where they commended the GOLDBOD model.
On the sidelines of the 2025 IMF–World Bank Annual Meetings, ministers from Liberia, Sierra Leone, The Gambia and Sudan applauded the model, showing that gold can be managed as a strategic asset to drive macroeconomic stability and long-term growth.
They noted that the Ghana Gold Board (GOLDBOD) represents a shift toward domestic value retention and responsible resource governance. Chaired by AfDB President Dr. Sidi Ould Tah, the meeting focused on how African economies can extract more value from their natural resources while ensuring transparency and stability.
AfDB President Dr. Ould Tah described the Ghanaian model as a “timely innovation” that aligns with his outfit’s efforts to promote responsible resource management and fiscal sustainability in Africa.
GoldBod’s centralisation of the country’s gold trade has driven exports to record levels. From January to August 2025, Ghana exported 66.7 tonnes of gold worth US$6billion – surpassing the full-year small-scale output in 2024 (63 tonnes, US$4.6billion).
Beyond its regulatory role, GOLDBOD is preparing to launch a state-backed digital tracking and traceability system in early 2026 to sanitise the gold trade and enhance transparency.
Backed by Section 31X of the Gold Board Act (Act 1140), the system will track gold from source to sale – covering the entire supply chain from licenced mines to district and regional purchasing offices.
This technology will ensure that only gold from legally licenced and compliant miners enters the formal value chain. Officials say the initiative will make Ghanaian gold eligible for certification under the London Bullion Market Association (LBMA) standards, expanding market access and boosting export earnings.
AfDB’s Dr. Ould Tah said the Ghanaian model “sets a new benchmark for ethical resource governance”.
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