The Bank of Ghana (BoG) has disclosed its intention to roll out a targeted intervention to involve the diaspora in Ghana’s growth and development agenda.
Speaking on Tuesday, January 6, 2026, at the Inaugural London-to-Accra Economic Growth Summit 2026 hosted by the Bank of Ghana, in partnership with the British High Commission to Ghana, the Governor of the Bank of Ghana, Dr Johnson Asiama stated that the link between Ghana and its citizens abroad must be strengthened to unlock growth opportunities.
The Governor reaffirmed the Bank of Ghana’s commitment to financial stability and sustainable economic growth, assuring of its steadfastness in the promotion of growth opportunities for Ghanaians both within and without.
“Today’s summit will create an opportunity to deepen structured dialogue between the diaspora and policymakers, unlocking transformative opportunities for growth and development.”
Dr Johnson Asiama, Bank of Ghana Governor
This milestone event explored new pathways for sustainable economic development in Ghana, soliciting ideas and effective strategies to accomplish this bridge. The event brought together Governor Dr. Johnson Asiama, First Deputy Governor Dr. Zakari Mumuni, Second Deputy Governor Mrs. Matilda Asante-Asiedu, British High Commissioner to Ghana Dr. Christian Rogg, government officials, diaspora members, private institutions, and development partners.
BoG’s Diaspora-Targeted Interventions
The Bank of Ghana, in its attempt to attract more foreign exchange from the diaspora, has implemented several diaspora-targeted interventions focused primarily on streamlining remittance inflows, tightening regulatory frameworks for money transfers, and promoting innovative financial products. These measures are also to support the cedi’s stability and enhance transparency in the financial system.
The Bank of Ghana recently introduced a new regulatory framework for the registration and operations of International Money Transfer Operators (IMTOs). This is intended to strengthen oversight of inward remittances, safeguard foreign exchange inflows, and ensure consumer protection.
The Bank of Ghana has also directed that banks and payment service providers adhere strictly to foreign exchange compliance regulations to prohibit the use of unapproved channels and unofficial exchange rates.
Reforms made with regard to remittance services are expected to reduce costs, quicken the speed of services, boost security, and encourage the diaspora community to channel more funds through formal, regulated avenues into Ghana.
Tailored financial products have also been created, promoting the development of innovative, diaspora-tailored financial solutions and services. The Bank of Ghana’s objective is to facilitate the investment plans and settlement of non-resident Ghanaians in the country.
The Bank of Ghana has taken action against unlicensed and unauthorized entities and operators that operate in the remittance and forex markets, suspending several money transfer operators for breaches of guidelines to ensure only approved, compliant services are used.
To ensure further engagements and collaborations with the diaspora, the Bank of Ghana participates in forums, such as the Ghana Diaspora Investment Forum, to engage with stakeholders and strengthen diasporan relations, emphasizing the role of a stable financial system in attracting investment.
BoG’s New Interventions to be Rolled Out In 2026
Aside from the existing interventions to inspire growth coordination between the diaspora and the Ghanaian financial system, Governor Asiama has hinted at new interventions to be rolled out this year.
“Over the course of this year, we’ll roll out targeted interventions, including the National Remittance Strategy with the Ministry of Finance, and a Remittance Roadshow for continent-wide diaspora engagement.”
Dr Johnson Asiama, Bank of Ghana Governor
The National Remittance Strategy (NRS) aims to transform remittances from simple transfers into engines of economic growth and attract more formal foreign exchange inflows into Ghana.
The NRS is part of broader foreign exchange market reforms and financial inclusion initiatives to formalize inflows, lower average transaction costs, and improve the Bank of Ghana’s data collection system for remittances, with technical assistance from partners like the International Fund for Agricultural Development (IFAD), to better inform policy decisions.
The BoG can easily introduce updates, stringent guidelines for all International Money Transfer Operators (IMTOs) and Payment Service Providers (PSPs), through the NRS, to strengthen the monitoring of inward remittances and ensure compliance with Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) laws.
The NRS will also promote investment and regulatory actions to promote diaspora-tailored financial solutions and investment plans, as well as compliance with the new guidelines, to ensure transparency and proper reporting of all transactions.
The Remittance Roadshow is intended to encourage the channeling of remittances through formal systems and into productive investments within Ghana, moving beyond mere household consumption.
Ghana is the second-largest remittance recipient in sub-Saharan Africa, and the diaspora summits and the NRS will help coordinate the inflows into investments.
The Roadshow is also key to increasing formal inflows, lowering costs, increasing financial security, shifting from consumption to investment, and deepening dialogue.
These targeted interventions enjoin a broader strategy to ensure a well-functioning and stable foreign exchange market as well as harness diaspora funds as a critical component of Ghana’s foreign exchange build-up.
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