Dr. Johnson Asiama, Christian Rogg and other stakeholders
Remittance inflows from the United Kingdom accounted for ONLY 17.5 percent of total remittance receipts marking a decline from 27.6 percent in 2024 given that the Ghanaian diaspora in the United Kingdom represent a major remittance corridor.
The Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama who disclosed this at the maiden London–Accra Economic Growth Summit said remittances constitute a structurally important and countercyclical source of foreign exchange for the country.
“During the period January–September 2025, remittance inflows from the UK accounted for 17.5 percent of total remittance receipts. This proportion marks a decline compared to the corresponding period in 2024, when the UK corridor contributed 27.6 percent, equivalent to more than one quarter of total inflows,” he said.
London–Accra Economic Growth Summit was officially launched in July 2025 with the Mayor of London, Sir Sadiq Khan, as part of a campaign to strengthen economic cooperation between Ghana and the United Kingdom through meaningful diaspora engagement.
Dr. Asiama also stated that there is considerable scope to scale up remittance inflows from the UK through the implementation of well-targeted policy measures and incentive-based frameworks adding that Diaspora inflows must be harnessed beyond consumption and deliberately channeled into sustainable investment that drives long-term growth.
The flows, he explained, have played a vital role in supporting household consumption, strengthened balance of payments, and enhanced macroeconomic stability.
“However, beyond consumption, remittances hold even greater potential as a driver of productive investment. When strategically channelled, they can finance small and medium-sized enterprises expand housing, modernise agriculture and, in doing so, create sustainable employment for young people through knowledge and skills transfer programmes at the national and local levels,” he noted.
The Governor mentioned that the Central Bank will soon roll out many targeted interventions including the development of the National Remittance Strategy in close collaboration with the Ministry of Finance, as well as a Remittance Road show to advance inclusive, continent-wide engagement with diasporans.
“I am calling on all stakeholders, including development partners and our diaspora leaders – let’s work together deliberately and decisively to transform remittances from simple transfers into powerful engines of growth, resilience and shared prosperity”.
“By deepening our markets, strengthening our institutions, and mobilising diaspora capital through credible and transparent frameworks, we can build a more resilient, investment-driven future for Ghana,” he emphasised.
By Ebenezer K, Amponsah