By Adnan Adams Mohammed
The Bank of Ghana (BoG) is launching a comprehensive National Remittance Strategy and accompanying roadshow, aiming not just to boost crucial foreign exchange inflows but to fundamentally transform diaspora transfers from household consumption support into long-term national investment capital.
The initiatives come as data reveals a significant drop in the UK’s share of remittances to Ghana, prompting authorities to rethink how best to harness the full economic potential of the Ghanaian diaspora.
The Declining UK Share
New data presented by BoG Governor Dr. Johnson Asiama at the London–Accra Economic Growth Summit highlights an urgent need for targeted intervention.
Remittances from the United Kingdom historically a critical source of foreign exchange accounted for only about 17.5% of total inflows between January and September 2025. This marks a notable decline from the same period in 2024, when the UK corridor contributed a robust 28%.
While still a significant source of funds that support household consumption and national balance of payments, the data underscores a loss of momentum that authorities say must be addressed through deliberate policy.
From Consumption to Investment: A New Strategy
Governor Asiama stressed that while diaspora inflows provide essential stability, their full economic potential remains largely untapped. The new initiatives, developed in collaboration with the Ministry of Finance, seek to create structured mechanisms for channelling these funds into productive sectors of the economy.
“Diaspora inflows must be harnessed beyond consumption and deliberately channelled into sustainable investment investment that drives long-term growth,” Dr. Asiama said at the London–Accra Economic Growth Summit on Tuesday, January 6, 2026.
When strategically channelled, these funds can finance small and medium-sized enterprises, expand housing supply, modernise agriculture, and create sustainable employment opportunities through skills and knowledge transfer programmes.
Rolling Out the National Remittance Strategy
To address this challenge and leverage the diaspora as a “stabilising and catalytic force,” the BoG is rolling out two key interventions over the course of the year:
A National Remittance Strategy: Developed with the Ministry of Finance, this framework aims to create incentive-based systems and strengthen regulatory frameworks to ensure remittance flows are efficient, transparent, and supportive of foreign exchange market stability.
A Remittance Roadshow: This initiative is designed to advance inclusive, continent-wide engagement with Ghanaians living abroad, fostering a stronger economic link between host nations and the homeland.
The central bank is focused specifically on strengthening the London–Accra corridor, enabling the British Ghanaian diaspora to convert ideas, innovation, and capital into shared prosperity.
As global capital flows remain volatile, positioning diaspora capital as a long-term engine for growth has become a national economic priority.
