Africa’s commodity future in focus as Ghana International Bank wraps London forum

Africa is losing billions by exporting raw commodities instead of processed goods, Ghana International Bank (GHIB) warned at its flagship London forum, as central bankers and industry leaders mapped strategies to boost value-added trade and reduce economic vulnerability.

At GHIBCONVERGE 2025, held Aug. 6–8 in the City of London, policymakers, financiers and commodity executives debated how the continent could shift its export model through new financing structures, regulatory reforms and regional integration. The theme: “Rethinking Commodity Finance for Growth.”

GHIB Chief Executive Officer Dean Adansi said the continent’s export profile has barely changed in decades, with only 14% 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 said.

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.

Buah Saidy, Governor of the Central Bank of The Gambia, said 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,” he said.

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.

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.

During the forum, GHIB announced a partnership with Vista Bank to expand trade finance offerings across West Africa. The inaugural Trader of the Year award went to Edmund Poku, CEO of Niche Cocoa Industry Ltd., recognized for scaling local cocoa processing into global markets.

Adansi closed the forum with a call for collective action: “The transformation will not be led by governments alone or by the private sector alone. It requires a coalition of committed actors who see beyond short-term margins to long-term wealth creation for Africa.”