President John Dramani Mahama has praised the Ghana Gold Board (GoldBod) for its remarkable performance since its establishment, saying its success demonstrates the importance of Ghana taking full ownership and control of its natural resources.

Speaking on recent developments in the mineral sector, the President said GoldBod was created to address longstanding inconsistencies in the country’s gold export data and to ensure effective monitoring of the gold trade.

According to him, those gaps had contributed to significant revenue losses over the years.

President Mahama noted that since GoldBod began operations, Ghana’s foreign exchange earnings from gold have increased significantly—an indication that better oversight and regulation are yielding results.

He commended the institution for restoring accountability to the gold industry and ensuring that the state receives its fair share of revenue.

Under the leadership of CEO Sammy Gyamfi, GoldBod has become the sole authority responsible for the purchase and export of gold in Ghana.

This centralisation, the President said, has strengthened transparency and curbed irregularities in the sector.

President Mahama urged other African countries to take similar steps by tightening control over their mineral resources and prioritising value addition.

Doing so, he argued, would improve export earnings, create jobs, and secure long-term economic stability.

He emphasised that Ghana’s experience with GoldBod shows that when African nations take charge of their resources, they reap greater benefits for their people.