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 commended the country’s GOLDBOD model as a continental benchmark for resource-led development.

The ministers praised Ghana’s strategy for balancing state participation, transparency, and local value creation in the management of its gold and other natural resources. They noted that the Ghana Gold Board (GOLDBOD) initiative has successfully enhanced accountability, curbed illicit gold trading, and increased domestic revenue generation.

Ghana’s model, they observed, demonstrates how resource-rich African countries can leverage their natural wealth for sustainable growth while protecting communities and the environment.

The Washington meeting, attended by officials from the World Bank, IMF, and African Development Bank, underscored the growing global recognition of Ghana’s reforms in the extractive sector as a model for effective natural resource governance in Africa.