The Bank of Ghana has urged members of the Ghanaian diaspora in the United Kingdom to channel more of their savings into long-term investment, arguing that remittances alone are not enough to support sustainable economic growth.

Speaking in Accra on Tuesday, The Bank of Ghana has urged members of the Ghanaian diaspora in the United Kingdom to channel more of their savings into long-term investment, arguing that remittances alone are not enough to support sustainable economic growth.

Speaking in Accra on Tuesday, Bank of Ghana Governor Johnson Pandit Asiama said overseas Ghanaians could play a bigger role in strengthening the country’s economy by investing in businesses, infrastructure and capital markets.

He was addressing the maiden London–Accra Diaspora Economic Growth Summit, an event organised with the British High Commission to deepen economic cooperation between Ghana and the UK.

Mr Asiama said remittances had long been a crucial source of foreign exchange for Ghana, helping to support household spending, stabilise the balance of payments and cushion the economy during periods of stress.

But he added that their impact would be far greater if more funds were directed towards productive investment.

“Diaspora inflows must be harnessed beyond consumption and deliberately channelled into sustainable investment that drives long-term growth,” he said.

The governor noted that the UK remains one of Ghana’s most important remittance corridors, but its relative contribution has fallen.

Between January and September 2025, remittances from the UK accounted for 17.5% of total inflows, down from 27.6% in the same period a year earlier, according to central bank data.

Mr Asiama said this decline highlighted the need for new policies and incentives to encourage greater diaspora engagement, particularly at a time when global financial conditions are tight and developing economies face heightened external risks.

“In such an environment, stable foreign exchange inflows, resilient financial markets and diversified sources of long-term capital are critical to macroeconomic stability,” he said.

The Bank of Ghana is now looking beyond traditional remittance channels and exploring investment-focused products aimed at overseas Ghanaians.

These include the possible introduction of diaspora bonds, collective investment schemes and other capital market instruments that would allow members of the diaspora to invest in Ghana while earning transparent and well-regulated returns.

According to Mr Asiama, such tools could help mobilise “patient capital” for sectors such as small and medium-sized enterprises, agriculture and housing, while also supporting job creation through skills and knowledge transfer.

Capital market development is a key priority for the central bank, he added, as deeper domestic markets can reduce reliance on short-term capital flows and make the economy more resilient to external shocks.

“The diaspora, with its familiarity with international financial markets and strong ties to Ghana, is uniquely positioned to support this agenda,” he said. said overseas Ghanaians could play a bigger role in strengthening the country’s economy by investing in businesses, infrastructure and capital markets.

He was addressing the maiden London–Accra Diaspora Economic Growth Summit, an event organised with the British High Commission to deepen economic cooperation between Ghana and the UK.

Mr Asiama said remittances had long been a crucial source of foreign exchange for Ghana, helping to support household spending, stabilise the balance of payments and cushion the economy during periods of stress.

But he added that their impact would be far greater if more funds were directed towards productive investment.

“Diaspora inflows must be harnessed beyond consumption and deliberately channelled into sustainable investment that drives long-term growth,” he said.

The governor noted that the UK remains one of Ghana’s most important remittance corridors, but its relative contribution has fallen.

Between January and September 2025, remittances from the UK accounted for 17.5% of total inflows, down from 27.6% in the same period a year earlier, according to central bank data.

Mr Asiama said this decline highlighted the need for new policies and incentives to encourage greater diaspora engagement, particularly at a time when global financial conditions are tight and developing economies face heightened external risks.

“In such an environment, stable foreign exchange inflows, resilient financial markets and diversified sources of long-term capital are critical to macroeconomic stability,” he said.

The Bank of Ghana is now looking beyond traditional remittance channels and exploring investment-focused products aimed at overseas Ghanaians.

These include the possible introduction of diaspora bonds, collective investment schemes and other capital market instruments that would allow members of the diaspora to invest in Ghana while earning transparent and well-regulated returns.

According to Mr Asiama, such tools could help mobilise “patient capital” for sectors such as small and medium-sized enterprises, agriculture and housing, while also supporting job creation through skills and knowledge transfer.

Capital market development is a key priority for the central bank, he added, as deeper domestic markets can reduce reliance on short-term capital flows and make the economy more resilient to external shocks.

“The diaspora, with its familiarity with international financial markets and strong ties to Ghana, is uniquely positioned to support this agenda,” he said.