Ghana is seeking to turn the diaspora into a major source of investment capital and expand digital investment products after measures to tighten foreign-exchange flows helped stabilize the cedi and boost remittance inflows to almost $8 billion last year, central bank Governor Dr. Johnson Pandit Asiama said.
Speaking alongside Finance Minister Dr. Cassiel Ato Forson at the Ghana-UK Investment Summit in London, Asiama said reforms introduced by the Bank of Ghana since the new Mahama administration took office had strengthened foreign-exchange inflows, reduced currency volatility, and laid the groundwork for broader investment-focused initiatives.
The central bank is now working with commercial banks on programs designed to channel a larger share of remittances into investments rather than household consumption, while also exploring the tokenization of gold-backed investment products to broaden participation from retail and diaspora investors.
“Nearly $8 billion” flowed into Ghana through remittances last year, Dr. Asiama said, describing the figure as roughly half the value of foreign direct investment received by Ghana.
The governor noted that the central bank moved to close loopholes in the remittance market after identifying practices that kept foreign currency outside Ghana’s banking system. Some money-transfer operators arranged local cedi payouts while retaining foreign currency abroad, limiting the amount of dollars and pounds available to domestic banks for trade financing and other transactions, he said.
By requiring those inflows to pass through the formal banking system, authorities increased the supply of foreign exchange and supported efforts to stabilize the local currency, according to Dr. Asiama.
The governor noted that much of the central bank’s efforts during its first year focused on tightening monetary conditions and removing excess liquidity from the financial system, describing the process as a necessary “reset” to restore macroeconomic stability.
With inflation and exchange-rate pressures easing, policymakers are shifting attention toward mobilizing investment and supporting growth in the productive sectors of the economy.
One initiative under consideration is the tokenization of gold-linked investment products, allowing investors to purchase fractional interests in assets that previously required ownership of physical gold coins. The project forms part of a broader strategy to position Ghana within the emerging digital finance ecosystem and attract new pools of capital.
Dr. Forson indicated that the government’s approach has involved close engagement with technical officials across the Ministry of Finance to ensure that policy design and implementation remain aligned as authorities pursue fiscal consolidation and economic recovery.
Ghana continues to seek international investors to sustain recent economic gains while reducing reliance on external borrowing. Domestic resource mobilization, diaspora investment, and digital financial innovation are seen as key pillars by the Mahama administration for the medium-term growth strategy.
