BoG to develop new products to channel diaspora remittances into investment

The Bank of Ghana is working with financial institutions, fintech companies and investment partners to develop innovative financial products aimed at channeling diaspora remittances into productive investment and job creation, Governor Dr Johnson Pandit Asiama has said.

Speaking at the launch of the Ghana Investment Promotion Authority (GIPA) 2025 Annual Investment Report on August 21, 2026, Dr Asiama said Ghana’s diaspora represented one of the country’s most significant opportunities for mobilising capital to support long-term economic transformation.

He said remittances remained an important pillar of Ghana’s foreign exchange inflows, with the 2025 remittance performance demonstrating the continued confidence and commitment of Ghanaians living abroad despite challenging global and domestic economic conditions.

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However, he said Ghana must move beyond simply sustaining remittance inflows and develop mechanisms to direct a greater proportion of those funds into productive activities.

“The challenge before us is not merely to sustain these inflows, but to channel them more effectively into productive investment, enterprise development, innovation, and job creation,” Dr Asiama said.

According to him, the Bank of Ghana has an important leadership role in addressing what he described as a missing link in the country’s diaspora investment agenda.

He said this required the development of trusted, innovative and market-responsive financial products that would give members of the Ghanaian diaspora greater confidence in investing their savings in the domestic economy.

“The missing link in our diaspora investment agenda [is] the development of trusted, innovative, and market-responsive financial products and solutions,” he said.

Dr Asiama explained that the proposed solutions were expected to deepen engagement with the diaspora while helping mobilise remittances towards national development priorities.

He said the Bank of Ghana had begun initiatives bringing together financial institutions, fintech companies, investment partners and other stakeholders to develop products that respond to the realities and aspirations of Ghanaians abroad.

“These are solutions that reflect the realities, aspirations, and needs of our diaspora community,” he said.

The Governor said the objective was to create a sustainable ecosystem that could convert diaspora savings into productive capital, strengthen trust between Ghana and its global diaspora and create pathways for long-term economic participation.

He urged stakeholders to contribute their expertise and ideas towards developing products that could successfully be taken to market and eventually become a flagship national offering.

Dr Asiama said such products should help mobilise investment, increase productivity, create jobs and contribute to Ghana’s long-term economic transformation.

He also linked the diaspora investment agenda to Ghana’s broader economic opportunities, including manufacturing, agro-processing, energy, ICT, value-added mining, electric mobility and the regulated digital economy.

He said Ghana’s position as host of the Secretariat of the African Continental Free Trade Area, combined with its young population, natural resources, improving infrastructure and expanding digital economy, provided a strong foundation for attracting and mobilising investment.

Ultimately, he said, the country must ensure that investment translates into tangible economic outcomes, including increased exports, productive industries, sustainable jobs and improved living standards.

MA