Published: August 27, 2025
67 Cheapside, City of London – Ghana International Bank (GHIB) has concluded GHIBCONVERGE 2025, its flagship thought-leadership and impact forum, after three days of intensive debate on the future of African commodity trade and finance.
The event, held in the City of London from 6–8 August 2025, brought together policymakers, financiers, commodity executives, legal specialists, and development experts from across Africa and the global market to craft actionable strategies for shifting the continent from raw commodity dependence to value-added trade, supported by sustainable finance and integrated infrastructure.
Under the banner ‘Rethinking Commodity Finance for Growth’, the conference explored the opportunities and structural reforms needed to accelerate Africa’s industrialisation, strengthen its trade position, and unlock new sources of revenue.
Dean Adansi – Financing the shift to value-addition
In his opening remarks, GHIB Chief Executive Officer Dean Adansi made the case for re-engineering Africa’s commodity export model. He noted that just 14percent of Africa’s exports are currently value-added goods — a figure that has remained unchanged for decades — and that this represents a lost opportunity worth billions in unrealised export earnings. “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,” Mr. Adansi told attendees. “The financing solutions exist but they require alignment between banks, policymakers, and industry.”
He proposed creating dedicated value-addition funds, expanding structured trade finance for processing plants, and promoting risk-sharing arrangements between African and global lenders. He also urged regulatory harmonisation across African economies to enable processed goods to move freely under the African Continental Free Trade Area (AfCFTA).
Central Bank perspectives – Gold refining, growth, and resilience
A keynote session on ‘Growing Africa through Commodities’ featured Governor Buah Saidy of the Central Bank of The Gambia, who delivered a forthright assessment of the strategic role commodities can play in macroeconomic stability. “For too long, Africa’s commodity wealth has been exported in its rawest form, leaving value and jobs offshore,” Governor Saidy said. “By investing in domestic refining capacity, building regional value chains, and securing fairer terms of trade, we can anchor our currencies, strengthen reserves, and create lasting resilience in our economies.”
Ghana’s central bank was represented by its First Deputy Governor, Dr. Zakaria Mumuni, who underscored the Bank of Ghana’s commitment to expanding domestic gold refining capacity and integrating ESG considerations into commodity sector policy. He highlighted how refining at source could reduce Ghana’s dependence on imported refined bullion and provide a hedge against volatility in global markets. “Ghana’s long-term macroeconomic stability depends on our ability to capture more value from the commodities we produce,” said the First Deputy Governor of the Bank of Ghana. “Expanding our domestic gold refining capacity is not just about increasing export revenues; it is about building resilience into our reserves, improving our trade balance, and ensuring that Ghanaians benefit more directly from the resources we own.”
Lord Boateng – Commodities as strategic leverage
In a keynote address on Day Two, Lord Paul Boateng, former UK Cabinet Minister and GHIB Board Member, argued that Africa must treat its commodity resources as geopolitical assets. “Critical minerals, cocoa, gold, these are not just export lines in a trade ledger,” Lord Boateng said. “They are bargaining chips in a changing global order, and Africa must use them to secure technology transfer, infrastructure investment, and sustainable value chains.”
His remarks framed a panel discussion on the race for critical minerals; a sector poised to benefit from surging global demand for battery metals and clean energy inputs. Panellists examined the policy frameworks and financing models needed to ensure Africa moves beyond extraction into refining and high-value manufacturing, particularly in electric vehicle supply chains.
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