The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has announced a new strategy to transform money sent home by Ghanaians abroad from personal consumption into long-term investment capital.

Speaking at the "Remit2Invest" Diaspora Roundtable in Virginia, USA, Dr Asiama stated that the central bank is working with government ministries to create structured pathways for these funds. The goal is to move beyond simple transfers for daily expenses and toward "patient capital" that can fund infrastructure, SMEs, and other productive sectors.

Remittances vs. foreign investment

Data shared at the event highlighted the massive scale of these inflows:

- 2025 Estimates: Remittances reached approximately $7.8 billion, nearly triple the $2.5 billion recorded in Foreign Direct Investment (FDI).

- 2024 Figures: Ghana recorded $4.6 billion in remittances, accounting for roughly 6% of the nation’s GDP.

Dr Asiama noted that these figures prove the diaspora is no longer peripheral to the economy but is now a "cornerstone" of Ghana's external stability.

New policy measures

To support this shift, the Bank of Ghana is implementing several measures:

- Structured Products: Exploring diaspora bonds and foreign-currency-denominated investment vehicles.

- Digital Innovation: Using fintech, blockchain, and tokenization to lower the cost of sending money and improve transaction security.

- Formal Channels: Strengthening transparency in the foreign exchange market and improving data reporting.

The Governor explained that Ghana is modeling its approach after countries like Kenya, the Philippines, and Mexico, which have successfully integrated diaspora capital into national development plans.

Economic outlook

Dr Asiama also provided an update on Ghana’s broader economy, citing improving inflation trends and a resilient cedi. He credited these gains to tight policy management and a strengthened reserve position, assuring the diaspora that the country's macroeconomic framework is stable enough to support their investments.

"We must treat the diaspora as domestic investors abroad, not just external senders," Dr Asiama concluded.