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The African Union (AU) has endorsed Ghana's Gold Board (GoldBod) as a blueprint for other African nations aiming to maximize the value of their mineral resources and bolster their economies. During the second edition of the African Minerals Policy Forum, Mining in Motion 2026, held in Accra, AU Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, Madam Francisca Tatchouop Belobe, highlighted Ghana's experience as a valuable lesson for the continent.

She emphasized that Ghana's reforms in the mineral sector could enhance foreign exchange earnings, bolster international reserves, maintain currency stability, and improve economic resilience.

Madam Belobe underscored that despite Africa's possession of an estimated $29.5 trillion in mineral resources and nearly 30% of the world's critical mineral reserves, the continent only captures a small fraction of the value generated. She stressed the need for Africa to transition from exporting raw minerals to developing processing, refining, and manufacturing industries that would create jobs and retain wealth locally.

President John Dramani Mahama of Ghana, addressing the conference, praised GoldBod's accomplishments. He noted that artisanal and small-scale mining gold exports rose from 64 tonnes in 2024 to 104 tonnes in 2025, primarily due to GoldBod's regulations on small-scale gold exports. These regulations helped generate $10.8 billion in export earnings in 2025, a significant increase from $4.66 billion in 2024.

President Mahama also stressed the board's focus on financing artisanal and small-scale miners to adopt technologies that would minimize environmental destruction.

Liberia's Vice-President, Mr Jeremiah Koung, called for the establishment of common principles on mineral development that respect individual countries' circumstances. He urged for regional infrastructure, reliable geological information, transparent mineral agreements, community benefits, and responsible artisanal and small-scale mining to be priorities in continental cooperation.

Last week, GoldBod reported generating $1.871 billion in foreign exchange in September 2026, surpassing its monthly target of $1.4 billion. Of this amount, $701.3 million was paid to authorized commercial banks, while $1.170 billion was directed to the Bank of Ghana for reserve accumulation.