African Finance Ministers Applaud Ghana’s GOLDBOD Model as Blueprint for Resource-Led Growth
At a high-level meeting on the sidelines of the 2025 IMF–World Bank Annual Meetings in Washington, Ghana’s innovative approach to natural resource management earned widespread praise from several African Finance Ministers. The country’s Ghana Gold Board (GOLDBOD) model was hailed as a transformative framework for resource-led growth and sustainable development across the continent.
Finance Ministers from Liberia, Sierra Leone, The Gambia, Sudan, and Ghana held strategic discussions with Dr. Sidi Ould Tah, President of the African Development Bank (AfDB) Group. During the meeting, the ministers commended Ghana’s success in harnessing its gold resources to stabilize the economy, strengthen the national currency, and drive long-term development.
According to participants, the GOLDBOD model marks a major shift from traditional extractive practices. Rather than allowing foreign operators to capture most of the value, Ghana’s strategy ensures that gold production directly benefits the state and its citizens. Several ministers described it as a “continental example” of how African nations can take control of their natural wealth through innovation and sound policy.
Many countries within the AfDB constituency have since expressed keen interest in adapting Ghana’s framework to improve transparency, accountability, and revenue management in their own mineral sectors. Experts noted that such initiatives could significantly enhance domestic resource mobilization and reduce economic vulnerabilities linked to commodity dependence.
Established under the oversight of Ghana’s Ministry of Finance, GOLDBOD serves as the sole authority for buying, selling, grading, and exporting gold and other precious minerals. By aligning the gold industry with national development goals, Ghana has set a precedent for how African economies can convert natural resource endowments into sustainable growth and financial stability.
source: citi newsroom