Ghana’s innovative approach to natural resource governance has attracted international recognition, as Finance Ministers from across Africa commended the country’s Ghana Gold Board (GOLDBOD) model during high-level discussions at the 2025 IMF–World Bank Annual Meetings in Washington, D.C.
The meeting, which brought together Finance Ministers from Ghana, Liberia, Sierra Leone, The Gambia, and Sudan, focused on strengthening natural resource management as a driver of sustainable economic growth. The discussions were held with Dr. Sidi Ould Tah, President of the African Development Bank (AfDB) Group.
Ghana’s GOLDBOD model, a framework that consolidates gold purchasing, refining, and export operations under a single regulatory authority, drew wide acclaim as an example of effective resource-led development.
Several ministers praised the initiative for “transforming how Ghana leverages its gold resources to support economic growth, stabilize the exchange rate, and drive long-term development.” They noted that the GOLDBOD structure demonstrates how African countries can capture greater value from their natural wealth while ensuring transparency and accountability in the extractive sector.
The Ghana Gold Board (GOLDBOD) serves as the sole national authority with the exclusive mandate to buy, sell, weigh, grade, assay, value, and export gold and other minerals. Operating under the supervision of the Ministry of Finance, it plays a central role in ensuring that mineral exploitation contributes directly to Ghana’s broader economic objectives.
Participants at the Washington meeting said the GOLDBOD model offers a replicable framework for countries seeking to enhance their fiscal resilience, diversify foreign exchange sources, and strengthen public trust in natural resource management.
Finance ministers from several countries in the AfDB constituency expressed interest in exploring similar systems to improve transparency and efficiency within their own mining and resource sectors.
