The African Union (AU) has recommended Ghana’s GoldBod model to other African countries as a framework for improving the continent’s capture of mineral revenues and strengthening domestic value addition.
Madam Francisca Tatchouop Belobe, AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals (ETTIM), said the model offered important lessons for African countries seeking to translate their mineral wealth into stronger foreign exchange reserves, macroeconomic stability and industrial development.
Speaking at the 2026 Mining in Motion Conference, she said Ghana’s experience demonstrated how reforms in the mineral sector could support broader national development objectives.
“The establishment of the Ghana GoldBod illustrates how mineral sector reforms can serve broader national development objectives by improving foreign exchange capture, strengthening international reserves, and supporting currency stability, as well as macroeconomic resilience,” she said.
Madam Belobe said the AU was looking forward to sharing Ghana’s experience with other member states to advance Africa’s efforts to retain more value from its natural resources.
She commended Ghana for its contribution to continental integration, particularly its role as host of the Secretariat of the African Continental Free Trade Area (AfCFTA), and for providing a platform for member states to exchange experiences and advance implementation of the African Mining Vision.
The Commissioner, however, said Africa needed to move beyond exporting raw minerals and build the industrial capacity required to process, refine and manufacture products from its natural resources.
She said the continent continued to lose opportunities to generate greater economic value because its minerals were often exported with limited processing, while other countries developed industries and technologies using those resources.
“While countries are building on the minerals, we are just exporting, while countries are planning on Africa’s minerals. We are still divided in our policies and strategies,” she said.
Madam Belobe called on African countries to coordinate their mineral policies and strategies to strengthen the continent’s bargaining power in global markets.
She said Africa’s ability to benefit from its mineral wealth depended on consistent implementation of continental agreements, stronger institutions and the development of local enterprises capable of participating across the mineral value chain.
“Our credibility will be measured not by the strategies we adopt, but by our ability to implement them,” she said.
She identified access to finance, technology, skills and markets as essential requirements for African businesses to participate meaningfully in mineral processing and manufacturing.
She also called for stronger research institutions and greater participation by women, young people, civil society and mining communities in the continent’s industrial transformation agenda.
Madam Belobe said financing arrangements must support the entire mineral value chain, extending beyond extraction to processing, refining and manufacturing.
“The true value of Africa’s minerals lies not simply in what we extract, but in what we build with them,” she said.
She further acknowledged the leadership of President John Dramani Mahama as the AU Champion for African Union Financial Institutions, describing the role as important to advancing African-led financing for development.
She said Ghana’s preparations for its AU chairmanship in 2027 would provide an opportunity to identify concrete priorities for continental action, with the African Union Commission and the African Minerals Development Centre ready to support the process.
Madam Belobe concluded that Africa needed to strengthen its collective capacity to set its own development agenda and turn its mineral resources into productive industries.
“Africa does not lack resources. Africa does not lack vision. What we must strengthen is our agency to set the agenda, our collective capacity to act together, and our productive capability to deliver results,” she said.
“The Africa we want will not be built on mineral exports alone. It must be built on the industry, technologies, and the African enterprises that our mineral wealth makes possible.”
