President John Dramani Mahama has renewed calls for stronger resource sovereignty across Africa, urging countries to move away from extractive economic models that largely benefit foreign interests at the expense of local development.

Speaking at the 2026 Africa Trade Summit, the president stressed the need for African nations to claim a fairer share of the wealth generated from their natural resources, describing this as critical to sustainable economic transformation.

As a practical example, President Mahama pointed to Ghana’s establishment of the Ghana Gold Board (GOLDBOD), describing it as a major step toward exercising greater control over the country’s gold exports. The board, led by Sammy Gyamfi, was created to streamline gold export management, improve transparency, and ensure that Ghana derives maximum benefit from its gold resources.

According to the president, the impact of GOLDBOD has already been significant. Since its establishment in April 2025, foreign exchange repatriation from small-scale gold exports has improved markedly, with export volumes increasing and full repatriation of proceeds now being achieved.

President Mahama also noted that Ghana has strengthened local participation in the mining sector through local content laws that require mandatory partnerships between foreign investors and indigenous companies. He said this approach not only retains more value within the country but also builds local capacity and ensures broader participation in the benefits of the extractive industry.

He added that Africa’s long-term prosperity depends on its ability to move beyond raw material exports and towards systems that promote value retention, transparency, and national ownership of strategic resources.

The president’s remarks at the summit formed part of a broader call for African countries to adopt policies that protect resource sovereignty while supporting industrialisation, job creation, and inclusive economic growth.