Ghana to set up Diasporan Savings and Investment account – Ofori-Atta

Ghana is to establish a Diasporan Savings and Investment Account to attract people of African American descent to invest in the various sectors of the country.

The plan, which is at its infant stage, will explore how to target retail other than institutional investors.

According to the Minister for Finance, Ken Ofori-Atta, this is expected to attract about 3 billion dollars, the same level as remittances currently in a period of a year or two.

He added the move is to build on the successes of the Year of Return, which marked 400 years when the first African slaves landed in James Town, Virginia.

The Finance Ministry, the Bank of Ghana and the Ghana Investment Promotion Centre are to discuss how to get the retail impact of the investment account.

The account is said to be a vehicle to the issue of Diasporan bonds in the future.

Meanwhile, minister for tourism Barbara Gyasi, has called on hotel operators not take advantage of the moment to inflate their hotel prices.