The Bank of Ghana has unveiled plans to prioritise the revival of remittance inflows from the United Kingdom following a sharp decline that has affected foreign exchange receipts.

Governor of the Bank of Ghana, Dr Johnson Asiama, disclosed that remittances from the UK—traditionally one of Ghana’s strongest remittance corridors—recorded a significant drop in 2025. Provisional data covering January to September show that inflows from the UK accounted for 17.5 per cent of total remittances, down sharply from 27.6 per cent over the same period in the previous year.

He noted that the UK corridor, which previously contributed more than a quarter of total remittance inflows, has lost considerable ground, underscoring the need for targeted interventions. According to Dr Asiama, the central bank believes there is substantial potential to reverse the decline through carefully designed policy actions and incentive-driven frameworks.

Speaking at the Diaspora Economic Growth Summit in Accra, the Governor said the Bank of Ghana is repositioning its approach to remittances, moving beyond their traditional role as consumption support to recognising them as a catalyst for long-term investment and economic transformation.

He explained that the next phase of policy will focus on complementing remittance inflows with structured, investment-oriented instruments. These include proposals to develop diaspora bonds, collective investment schemes, and other capital market products aimed at channelling diaspora savings into productive sectors of the economy, while offering transparent and well-regulated returns.

Dr Asiama added that the initiative forms part of a broader strategy to deepen Ghana’s capital markets, stabilise the foreign exchange market, and leverage the diaspora as a source of patient capital and financial credibility.

The Bank of Ghana believes that a renewed focus on the UK remittance corridor, supported by innovative financial instruments, could significantly enhance foreign exchange inflows and support sustainable economic growth.