Dr. Johnson Pandit Asiama
The Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has called on Ghanaians in the diaspora to shift from consumption-driven remittances to investment-focused capital, describing diaspora funds as a critical pillar for the country’s long-term economic transformation.
Speaking at the maiden “Central Bank Bridge: Remit2Invest” forum in Virginia, United States, Dr. Asiama said diaspora contributions should no longer be viewed merely as transfers to support households but as strategic investments capable of driving sustainable growth.
He emphasised that the diaspora must be recognised as “domestic investors abroad,” with the capacity to provide stable and long-term capital even during periods of global uncertainty.
“The Ghanaian diaspora is not peripheral to our economy; you are central to our external stability, our investment strategy, and our economic transformation,” he told an audience of professionals and entrepreneurs.
According to the Governor, remittance inflows surged from $4.6 billion in 2024 to nearly $7.8 billion by the end of 2025, which underscores their growing importance.
These inflows now account for about six percent of Gross Domestic Product, surpassing both foreign direct investment and official development assistance as Ghana’s most reliable source of foreign exchange.
Despite this growth, Dr. Asiama noted that a significant portion of remittances continues to be channelled into household consumption, including housing, education and daily upkeep, uses that, while important, do not generate long-term capital.
He stressed the need for a deliberate transition toward investment-driven remittance flows, targeting sectors such as government securities, small and medium-sized enterprises, fintech, real estate and infrastructure.
To support this shift, the central bank is rolling out policy measures to strengthen formal remittance channels, improve foreign exchange market transparency, and expand digital payment systems.
It is also exploring diaspora bonds and foreign currency-denominated investment products through regulated financial institutions.
“We are working to ensure that when a Ghanaian abroad decides to invest, the process is seamless, credible and rewarding,” he said.
Dr. Asiama noted that Ghana is drawing lessons from countries such as the Philippines, Mexico and Kenya, where structured diaspora investment frameworks have delivered strong results.
At the centre of the strategy is the “Remit2Invest” initiative, which seeks to formalise remittance flows and channel them into productive sectors.
The programme also aims to leverage fintech partnerships and emerging technologies to reduce transaction costs and improve efficiency.
A key component involves engaging second-generation Ghanaians through digital, identity-linked platforms tailored to their investment preferences.
On the broader economic outlook, the Governor cited easing inflation, a relatively stable cedi, and improving gross international reserves as signs of recovery, noting that these conditions are essential for restoring investor confidence and attracting diaspora capital into long-term national development.
By Ernest Kofi Adu