African countries could unlock billions of dollars in economic gains by using its natural resources to negotiate trade deals and attract investments to drive its industrialization goals.
According to speakers at the GHIBCONVERGE 2025 organized by Ghana International Bank (GHIB) in London, United Kingdom, Africa is losing billions by exporting raw commodities instead of processed goods.
As such, GHIB board member and former UK minister Lord Paul Boateng argued Africa must treat resources as geopolitical bargaining chips.
“Critical minerals, cocoa, gold — these are not just export lines in a trade ledger. They are bargaining chips in a changing global order,” he said, framing a discussion on the race for battery metals.
According to GHIB Chief Executive Officer Dean Adansi the continent’s export profile has barely changed in decades, with only 14pc of African goods leaving as processed or value-added products.
“We are sitting on untapped billions in export revenues because we continue to export raw cocoa instead of chocolate, raw gold instead of refined bullion, and raw cashew instead of processed kernels,” he stated.
Adansi proposed creating value-addition funds, expanding structured trade finance for processing plants, and harmonizing regulations under the African Continental Free Trade Area (AfCFTA) to enable smoother movement of processed goods.
Experts say refining commodities at source would help Africa anchor currencies and strengthen reserves.
“For too long, Africa’s commodity wealth has been exported in its rawest form, leaving value and jobs offshore,” added Buah Saidy, Governor of the Central Bank of The Gambia.
Ghana’s First Deputy Governor Zakaria Mumuni emphasized gold refining as a hedge against global volatility and a route to economic resilience. “This is about building stability into our reserves and ensuring that Ghanaians benefit more directly from the resources we own,” he said.
During the forum, GHIB announced a partnership with Vista Bank to expand trade finance offerings across West Africa.
