Ghana’s GOLDBOD Model Praised as Benchmark for Resource-Led Development in Africa

Ghana’s innovative approach to natural resource governance took centre stage at a high-level meeting in Washington, D.C., on October 14, 2025, where finance ministers from five African countries hailed the country’s GOLDBOD model as a continental benchmark for resource-led economic transformation.

The ministers commended Ghana for demonstrating how transparent, well-structured, and locally driven resource management can drive sustainable growth while reducing dependency on external financing.

The GOLDBOD (Ghana Gold Board) initiative, launched under President John Dramani Mahama’s administration, seeks to formalize and regulate the small-scale mining sector, improve revenue mobilisation, and ensure that the benefits of gold production are equitably distributed among communities and the state.

Participants at the meeting — which included finance ministers from Kenya, Nigeria, Zambia, Tanzania, and South Africa — noted that Ghana’s model could serve as a blueprint for other resource-rich nations seeking to balance environmental protection with industrial growth and social inclusion.

Officials from the World Bank and the African Development Bank (AfDB) also praised the GOLDBOD framework for its integration of traceability systems, community reinvestment mechanisms, and fiscal discipline.

According to observers, Ghana’s success with GOLDBOD underscores a growing shift across Africa toward homegrown governance solutions that promote transparency, accountability, and long-term value creation from natural resources.