Ghana’s diaspora emerges as key development partner with record $7.8 billion remittances

President John Dramani Mahama has hailed Ghana’s diaspora as the country’s “most reliable development partner,” revealing that remittances from citizens abroad reached a historic $7.8 billion in 2025, the largest annual inflow ever recorded.

Speaking during his 2026 State of the Nation Address (SoNA) to Parliament on Friday, President Mahama emphasised the critical role expatriate Ghanaians play in stabilising the national economy and supporting everyday life across the country.

“Mr Speaker, I’m also pleased to report that remittances from our relatives abroad, the Ghanaian diaspora, reached a historic high of $7.8 billion in 2025,” he told lawmakers.

The president attributed the record-breaking inflow to confidence in Ghana’s economic direction and the “enduring patriotism” of Ghanaians living overseas.

He highlighted the tangible impact of the funds, noting that they go directly into households, education, housing, and entrepreneurship.

“Mr Speaker, these remittances they bring back home support households, they finance education, they build homes, they provide seed money for businesses, and best of all, they stabilise our foreign exchange position,” he said.

President Mahama contrasted the diaspora’s contributions with traditional development aid, noting that their support arrives without bureaucratic hurdles, conditionalities, or fanfare.

“In many respects, our diaspora has become one of the country’s most reliable development partners. Without contracts, conditionalities, or fanfare, they are easily one of our most reliable development partners,” he said.

Despite the relative strength of the Ghanaian cedi against major foreign currencies, the diaspora continues to play a vital role in supporting the local economy.

Remittances flow directly into households, businesses, and community projects, often providing resources that go beyond what local incomes alone can sustain.

This consistent financial inflow demonstrates that, even when currency conditions favour domestic residents, Ghanaians abroad remain committed to backing development at the grassroots level, reinforcing both economic stability and social resilience.