Ghana’s Gold Board model gains Pan-African support
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The African Union (AU) recommended that Ghana’s Gold Board (GoldBod) serve as a model for other African nations seeking to benefit more from their mineral wealth.
AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Francisca Tatchouop Belobe, praised Ghana’s reforms at the African Minerals Policy Forum, Mining in Motion 2026 in Accra.
Belobe noted that Ghana's approach could improve foreign exchange earnings, strengthen economies, and support currency stability across the continent, where an estimated $29.5 trillion in mineral resources remain largely uncaptured. GoldBod began operating in 2025 to oversee Ghana’s gold trade, specifically focusing on artisanal and small-scale mining. President John Dramani Mahama explained that GoldBod’s regulations helped increase gold exports from 64 tonnes in 2024 to 104 tonnes in 2025.
This increase generated $10.8 billion in export earnings for Ghana in 2025, a significant rise from the $4.66 billion earned in 2024. Ghana also plans to stop exporting unprocessed mineral ores by 2030, using phased restrictions and legal measures to achieve this goal. In September 2026 alone, GoldBod generated US$1.871 billion in foreign exchange, surpassing its monthly target and directing funds to both commercial banks and the Bank of Ghana to build reserves.
Liberia’s Vice-President Jeremiah Koung called for shared principles in mineral development that account for the unique conditions of each nation.
