London: Mr Dean Adansi, Chief Executive Officer of Ghana International Bank (GHIB), highlighted that only 14 per cent of Africa's exports are currently value-added goods, a figure unchanged for decades, translating into billions in unrealised export earnings. Mr Adansi expressed these concerns at the conclusion of the three-day GHIB CONVERGE 2025 Conference in London.
According to Ghana News Agency, the event, held from August 6-8, 2025, in the City of London, gathered policymakers, financiers, commodity executives, legal specialists, and development experts from Africa and beyond. The conference aimed to develop strategies to transition the continent from a reliance on raw commodities to value-added trade, emphasizing sustainable finance and integrated infrastructure. The theme, 'Rethinking Commodity Finance for Growth,' focused on structural reforms and opportunities to accelerate Africa's industrialisation, strengthen trade positions, and unlock new revenue sources.
Mr Adansi remarked, '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 emphasized the need for alignment between banks, policymakers, and industry to harness existing financing solutions. His proposals included creating dedicated value-addition funds, expanding structured trade finance for processing plants, and promoting risk-sharing arrangements between African and global lenders. He also advocated for regulatory harmonisation across African economies to facilitate the movement of processed goods under the African Continental Free Trade Area (AfCFTA).
Mr Buah Saidy, Governor of the Central Bank of The Gambia, echoed these sentiments, pointing out that Africa's commodity wealth has long been exported in its rawest form, leaving value and jobs offshore. He suggested that by investing in domestic refining capacity, building regional value chains, and securing fairer trade terms, Africa could anchor its currencies, strengthen reserves, and create lasting economic resilience.
Dr. Zakaria Mumuni, First Deputy Governor of the Bank of Ghana, reiterated the Bank's commitment to expanding domestic gold refining capacity and integrating ESG considerations into commodity sector policy. He highlighted that refining at source could reduce Ghana's reliance on imported refined bullion and hedge against global market volatility. 'Ghana's long-term macroeconomic stability depends on our ability to capture more value from the commodities we produce,' he stated.
Mr Lord Paul Boateng, a former UK Cabinet Minister and GHIB Board Member, argued that Africa must view its commodity resources as geopolitical assets. He urged the continent to leverage critical minerals like cocoa and gold, not merely as trade ledger entries, but as bargaining chips for securing technology transfer, infrastructure investment, and sustainable value chains.