GoldBod success highlights importance of Ghanaian resource sovereignty, says President Mahama
Ghana’s President John Dramani Mahama has praised the success of GoldBod, the state controlled gold trading institution, describing it as a major step toward true national control of mineral resources. The President believes GoldBod’s achievements show clearly how national ownership of natural wealth can strengthen the economy and improve financial stability.
GoldBod was created to bring all gold sales and exports under a single national institution. This move ensures that foreign currency earnings from gold remain within the Ghanaian financial system rather than being diverted through informal or external routes. According to the President, this approach reinforces economic independence and gives the nation stronger leverage over its resources.
President Mahama explained that the consolidation of gold exports has helped the government secure a larger share of foreign earnings. In the past, a significant portion of gold revenue escaped through private channels. With GoldBod’s involvement, more of this revenue now supports national development and monetary stability.
He also emphasised that GoldBod supports Ghana’s macroeconomic strategy. The steady flow of revenue from gold strengthens the value of the cedi and contributes to national reserves. This, the President said, positions GoldBod not only as a commercial institution but also as a strategic pillar in long term economic planning.
Economic analysts have welcomed the President’s message. Many believe GoldBod could become a model for other African countries seeking stronger control over their natural resources. They argue that Ghana’s example demonstrates how centralising mineral exports can reduce revenue losses and improve transparency.
However, some experts warn that GoldBod must remain accountable. They insist that without strong governance, centralisation could lead to inefficiencies. President Mahama acknowledged this concern and called for strict regulatory oversight and regular audits.
Civil society organisations have encouraged a continuous public dialogue on the role of GoldBod. They believe that with sustained transparency, the institution can create jobs, support small scale miners and improve wealth distribution across the country.
President Mahama concluded by reaffirming that Ghana’s future depends on how well it controls and manages its natural resources. GoldBod, he said, is an important foundation for achieving sustainable development and shared prosperity.
