Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has urged African leaders to take bold steps to transform the continent’s vast mineral wealth into a catalyst for economic independence and youth empowerment.
Speaking at the maiden Mining and Minerals Convention in Accra, Gyamfi highlighted Africa’s paradox of poverty amid abundance, noting that the continent holds 30% of the world’s known mineral reserves yet continues to struggle with hunger, unemployment, and underdevelopment.
“Why? Because we have failed to leverage our natural resources for our prosperity,” he stated.
According to Gyamfi, the future of Africa’s mining industry lies in innovation, value addition, and ownership. He called for a decisive shift from exporting raw minerals to refining and processing them within the continent.
“We cannot solve today’s crisis with yesterday’s tools,” he declared. “The minerals and mining sector must move from raw exports to in-continent beneficiation, from rent-seeking middlemen to tech-enabled trade, and from youth as labourers to youth as innovators, financiers, and owners.”
He further urged African governments to establish new financing structures that will unlock capital for responsible mining, value addition, and innovation. Collaboration between policymakers, investors, and the private sector, he said, is essential to reposition the sector for sustainable growth.
“Let African minerals build African futures. Let our natural revenues fuel innovation, not corruption. Let our youth lead global trade — not just participate,” Gyamfi emphasized.
Outlining Ghana’s recent reforms under GoldBod, Gyamfi pointed to strategic partnerships with local banks, refineries, and international investors as part of a wider continental agenda to place Africans at the center of the gold value chain.
“Ghana is resetting and Africa is rising,” he concluded. “The GoldBod is ready. All we need now is courage and capital.”
