By: Franice Tandoh
A Corporate Governance and Banking Consultant, Dr. Richmond Akwasi Atuahene, has described workers’ remittances as a “super gold” for Ghana, citing their significant contribution to the national economy over the past decade.
Speaking on the GTV Breakfast Show on Monday, May 12, 2025, Dr. Atuahene revealed that between 2014 and 2023, Ghana received approximately 28 billion dollars in personal remittances from Ghanaians abroad. This figure, he said, surpasses earnings from cocoa and even gold exports within the same period.
According to Dr. Atuahene, countries such as Canada, the United States, the United Kingdom, Saudi Arabia, the UAE, and South Africa are key sources of remittances sent by Ghanaian migrants to their families back home.
“These remittances go beyond gold and cocoa in value. If we make the right effort to capture even 70 to 80 percent of what is actually being sent, the cedi will be stronger,” he stated.
He noted that currently, only about 50 percent of remittance inflows are being accurately recorded, far less than countries like Bangladesh, which records over 80 percent of remittances.
Dr. Atuahene called on policymakers and financial institutions to develop more effective systems to track and leverage these inflows for economic development.
