Accra: The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, has announced that Ghana recorded $7.8 billion in remittance inflows by the end of 2025. This marks an increase from $4.6 billion in 2024, highlighting the growing significance of funds sent by Ghanaians abroad, especially those residing in the United States.
According to Ghana Web, Dr. Asiama shared these figures during a roundtable discussion on the 'Central Bank Bridge: Remit2Invest' initiative held in the United States. He emphasized that remittances now make up approximately 6% of Ghana's gross domestic product, surpassing foreign direct investment in the process. Dr. Asiama also pointed out that recent improvements in Ghana's macroeconomic environment have contributed to this growth, with inflationary pressures easing, exchange rates stabilizing, and international reserves strengthening.
Dr. Asiama highlighted that the Bank of Ghana is committed to converting remittance inflows into formal foreign exchange and investment capital. He outlined the bank's objective to transform these flows into investible capital within the financial system, reinforcing the importance of remittances to the country's economy.
The governor reiterated that remittance inflows are a cornerstone of Ghana's external sector, surpassing foreign direct investment as a percentage of GDP. He emphasized the necessity of shifting from consumption-driven remittances to investment-oriented diaspora capital, identifying the Ghanaian diaspora as a strategic asset for foreign exchange, technology transfer, and access to global capital markets.
Dr. Asiama concluded by stressing the need for a deliberate transition to unlock the diaspora's potential, advocating for a focus on investment-oriented diaspora capital.