By Hannah Dadzie
The Bank of Ghana is calling for a strategic shift in the way diaspora capital is harnessed, urging that remittances from Ghanaians abroad be channelled into productive investments that drive long-term economic growth.
Speaking at the London to Accra Economic Growth Summit, the Governor. Dr. Johnson Asiama said the initiative captures the potential of deep social and cultural ties between London and Accra to generate sustained economic value.
“Diaspora inflows have long supported household consumption and macroeconomic stability, but beyond consumption, remittances hold even greater potential as a driver of productive investment,” Dr. Asiama said.
He highlighted opportunities to finance small and medium-sized enterprises, expand housing, modernize agriculture, and create employment through knowledge and skills transfer programs.
Since its launch in July 2025 by London Mayor Sir Sadiq Khan, the London to Accra campaign has positioned the diaspora as a strategic bridge linking ideas, markets, and capital across both cities. According to the Governor, in the period between January and September 2025, remittances from the UK accounted for 17.5 percent of Ghana’s total remittance receipts, a decline from 28 percent the previous year, signaling significant potential to scale up flows through targeted policies and incentive frameworks.
Dr. Asiama said the Bank of Ghana is working to complement remittance inflows with structured investment-oriented instruments, such as diaspora bonds, collective investment schemes, and other capital market products.
“Capital market deepening is a key priority. Well-functioning domestic debt and equity markets reduce reliance on short-term flows, improve price discovery, and enhance resilience to external shocks,” he noted.
The Governor also emphasized the importance of fintech innovations in mobilizing diaspora investment, inviting innovators to engage in initiatives including tokenization and other investment platforms. Parallel reforms in the foreign exchange market aim to improve liquidity, transparency, and price formation, creating confidence for both domestic and international investors.
“Today’s summit provides an important platform to move from dialogue to implementation, linking diaspora capital to investment opportunities and supporting long-term financial stability,” Dr. Asiama said.
He called on development partners, policymakers, and diaspora leaders to work decisively to transform remittances from simple transfers into engines of growth, resilience, and shared prosperity.
The summit is expected to kickstart a series of interventions, including a national remittance strategy and continent-wide roadshows to strengthen Ghana’s connection with its diaspora, reinforcing economic resilience in both Ghana and the United Kingdom.
