BoG seeks to convert remittances into long-term investment capital
The Bank of Ghana is seeking to channel billions of dollars in diaspora remittances into bonds, small businesses and infrastructure, as part of efforts to turn overseas transfers into a sustainable source of investment capital and foreign exchange.
Governor Dr Johnson Pandit Asiama disclosed this at a diaspora roundtable in Washington dubbed “The Central Bank Bridge: Remit2Invest”.
He revealed that remittance inflows rose sharply to nearly US$7.8 billion by the end of 2025, up from about US$4.6 billion in 2024. At roughly six per cent of GDP, remittances now surpass foreign direct investment, highlighting their growing importance to Ghana’s external sector.
Dr Asiama described remittances as a key pillar of the economy and indicated that the central bank is working with state institutions to develop diaspora bonds and structured investment vehicles. It is also promoting foreign-currency-denominated products through regulated financial institutions.
He noted that authorities are reviewing regulatory frameworks governing cross-border flows while strengthening engagement platforms for Ghanaians abroad.
The move forms part of broader efforts to diversify Ghana’s financing sources following its recent debt restructuring and reduce reliance on volatile external capital. Remittances, he said, are generally more stable during global economic shocks and domestic stress periods.
According to the Governor, the next phase of policy will focus on transforming how remittance inflows are utilised.
He stressed that the Ghanaian diaspora should be viewed as a core component of the economy, capable of providing reliable long-term capital, even in times of crisis.
The Bank of Ghana is also leveraging digital financial tools to improve efficiency in remittance flows. This includes partnerships with fintech firms to deploy technologies such as digital ledger systems and tokenisation models to reduce costs, enhance traceability and speed up transactions under regulatory oversight.
Dr Asiama added that efforts are underway to ensure seamless and credible investment pathways for diaspora investors interested in government securities, SMEs, fintech, real estate and infrastructure projects.
The United States remains Ghana’s largest source of remittances, making Washington a strategic location for the engagement. The city hosts a significant Ghanaian diaspora community with strong representation across finance, technology, healthcare and public policy.
He further noted that recent macroeconomic adjustments have strengthened investor confidence, with inflation easing, reserves improving and the cedi showing resilience following tighter monetary policy and liquidity management measures.
Recent policy initiatives have also targeted improved capture of formal remittance flows, greater transparency in the foreign exchange market, enhanced digital payment systems and better data reporting.
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