Sammy Gyamfi, Chief Executive Officer of the Ghana Gold Board (GoldBod), has called for a fundamental shift in Africa's approach to managing its natural resources. He stressed that the continent's resources must promote African ownership, value creation, and sustainable economic transformation. Gyamfi made these remarks at the Africa Rising Symposium organized by EMY Africa in London on July 31, 2026.
Mr. Gyamfi argued that Africa's development discussions should move beyond merely discovering resources. The focus must now be on ensuring Africans retain greater control and benefits from these valuable assets. He highlighted that this strategic shift is crucial for fostering long-term economic growth and reducing reliance on external factors.
This call aligns with a broader trend across Africa to maximize returns from its abundant natural wealth. Many African nations are seeking to move up the value chain, processing raw materials domestically rather than exporting them. This approach aims to create more jobs, boost industrialization, and generate higher revenues for national development.
Speaking on the theme, “The Growing Relationship Between Africa and Its Global Diaspora and Why This Movement Matters,” the GoldBod CEO urged the African diaspora to become strategic investors. He encouraged them to move beyond primarily supporting families through remittances. Mr. Gyamfi described the diaspora as a key asset possessing the capital, expertise, technology, and networks necessary to accelerate Africa's transformation.
“Remittances are lifelines, but investments build self-sustaining engines,” Mr. Gyamfi stated. He added that remittances help households survive, but investments help economies transform. He urged diaspora communities to support productive sectors including manufacturing, agribusiness, technology, healthcare, infrastructure, green energy, and value addition.
Mr. Gyamfi also called on African governments to create an attractive investment environment. This requires policy consistency, transparent institutions, and robust protection of contracts. He emphasized that the continent’s resources must increasingly serve as a foundation for African prosperity. He also encouraged mutually beneficial partnerships with international entities.
“Fellow Africans, Africa is rising. Let Africans rise with her,” he declared. He commended President John Dramani Mahama for pursuing policies aimed at strengthening African ownership of strategic sectors. These policies are also focused on resetting Ghana’s economy. Under President Mahama's leadership, GoldBod has focused on formalizing Ghana’s gold trade.
GoldBod has also worked to improve traceability and combat gold smuggling. The organization aims to increase foreign exchange mobilization and support the accumulation of gold reserves by the Bank of Ghana. These efforts are critical for stabilizing the national currency and strengthening the country's economic resilience. The emphasis on local ownership and value addition is expected to drive significant economic benefits for Ghana and the wider African continent.