Dr Johnson Asiama is Bank of Ghana Governor
The Bank of Ghana has announced a strategic focus on reversing a sharp decline in remittances from the United Kingdom in a bid to boost vital foreign exchange inflows.
The Governor of the Bank of Ghana, Dr Johnson Asiama, revealed that remittances from the UK, historically a major corridor for Ghana, fell significantly in 2025. Data for January to September show UK inflows accounted for 17.5% of total remittances, a notable drop from 27.6% in the same period the previous year.
“This proportion marks a decline compared to the corresponding period in 2024, when the UK corridor contributed 27.6 percent, equivalent to more than one quarter of total inflows.
“The Bank of Ghana posits that there is considerable scope to scale up remittance inflows from the UK through the implementation of well-targeted policy measures and incentive-based frameworks,” he said.
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Speaking at the Diaspora Economic Growth Summit in Accra, Governor Asiama stated that there is “considerable scope to scale up” these flows.
The central bank’s strategy will shift from viewing remittances merely as consumption support to harnessing them for long-term investment.
“The next phase of our policy focus, and a central theme of this summit, is to complement remittance inflows with structured, investment-oriented instruments.
“This includes exploring opportunities such as diaspora bonds, collective investment schemes, and other capital market products that allow diaspora savings to be mobilised into productive sectors of the economy, while offering transparent, well-regulated returns to investors,” Dr Asiama said.
The initiative is part of a broader push to deepen Ghana’s capital markets and stabilise the foreign exchange market, leveraging the diaspora as a source of “patient capital” and credibility.
ID/BAI
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Source:
www.ghanaweb.com
