Finance Ministers from five African nations praised Ghana’s groundbreaking GOLDBOD model as a paradigm for resource-led development throughout the continent, putting the country’s approach to natural resource governance front and centre at a high-level meeting in Washington today.
On the fringes of the 2025 IMF–World Bank Annual Meetings, Finance Ministers from Ghana, Liberia, Sierra Leone, The Gambia, and Sudan met with Dr. Sidi Ould Tah, President of the African Development Bank (AfDB) Group, regarding strategic matters.
Among the many topics on Africa’s development agenda, the discussion on natural resource management was particularly noteworthy, with Ghana’s GOLDBOD receiving special recognition.
A number of ministers praised the effort for successfully changing Ghana’s use of its gold resources to promote sustainable development, boost exchange rate stability, and boost economic growth.
They pointed out that the model shows how African countries might extract more value from their natural resources, marking a substantial departure from the conventional method.
Numerous nations in this AfDB constituency have indicated a great desire to implement comparable strategies in order to improve resource governance and transparency in their own economies.
The only body authorised to purchase, sell, weigh, grade, assay, value, and export gold and other precious minerals in Ghana is the Ghana Gold Board (GOLDBOD).
GOLDBOD, which is under the Ministry of Finance’s direction and control, is essential to controlling the industry and making sure that Ghana’s mineral resource exploration directly contributes to the country’s growth.
Source: newsthemegh.com