The Bank of Ghana is to work with commercial banks to develop investment-linked remittance products aimed at channelling a greater share of diaspora inflows into business expansion, infrastructure projects and long-term capital formation.
It forms part of broader efforts by the central bank to leverage improving macroeconomic conditions and a stronger banking sector to support productive economic activity and deepen domestic financial markets.
To that effect, Governor Johnson P. Asiama engaged with chief executives of banks in Accra and told them the central bank would collaborate with product leads across the banking industry and other stakeholders to strengthen mechanisms that convert remittance inflows into investments rather than consumption.
Dr. Asiama added that such efforts would help deepen financial markets, strengthen economic resilience and support sustainable growth.
The move comes as the country’s external position continues to strengthen. The country recorded a current account surplus of US$3.1 billion in the first quarter of 2026, supported by strong export earnings from gold and cocoa as well as stable remittance inflows. Gross International Reserves rose to US$14.4 billion, equivalent to 5.7 months of import cover, providing a stronger buffer against external shocks.
It also aligns with the central bank’s broader push for banks to increase support for productive sectors of the economy as macroeconomic stability improves.
The Governor said the long-term sustainability of the financial system depends on the performance of the real economy, which generates quality credit demand, employment and sustainable growth.
He encouraged banks to take advantage of declining interest rates, advances in financial technology and a more stable economic environment to develop innovative financial products tailored to households and businesses.
The remittance initiative was announced against the backdrop of an economy that the central bank says remains resilient despite uncertainties in the global environment.
The Monetary Policy Committee recently kept the policy rate unchanged at 14 percent, citing broadly balanced risks to inflation and growth. The decision was intended to preserve price stability while supporting the recovery in economic activity and private-sector credit growth.
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