The Bank of Ghana (BoG) has urged commercial banks to develop dedicated investment products for Ghanaians living abroad, as part of efforts to channel more diaspora remittances into savings and productive investments.
The call follows a survey conducted by the central bank on diaspora investment products across the banking industry, which revealed that banks currently have limited off-the-shelf products specifically tailored to the needs of Ghanaian customers in the diaspora.
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According to BoG data, remittance inflows to Ghana reached approximately US$7.79 billion in 2025, while inflows for the first half of 2026 stood at about US$3.65 billion.
Speaking at the Post-Monetary Policy Committee (MPC) Engagement with Heads of Banks at Bank Square on Wednesday, August 12, 2026, the Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, said the limited availability of specialised investment products was preventing the country from maximising the economic potential of diaspora remittances.
Banks currently do not have dedicated off-the-shelf investment products specifically designed to meet the needs of Ghana’s diaspora,” Dr. Asiama said.
He noted that a significant proportion of remittances continues to move through conventional money-transfer channels rather than being converted into structured savings and investment instruments.
As a result, remittances continue to flow largely through basic transfer channels, rather than being channelled into structured savings products, bonds, or other investment vehicles,” he added.
BoG urges banks to broaden remittance services
Dr. Asiama urged banks to take advantage of the significant opportunities within the remittance market by expanding their offerings beyond traditional money-transfer services.
He called for the development of bank-led investment products, mobile money solutions and digital remittance platforms that would make it easier for Ghanaians abroad to save and invest their funds in the domestic economy.
I want to urge banks to take advantage of the significant potential within the remittance space by broadening their offerings beyond traditional transfer services to include bank-led investment products, mobile money solutions, and digital remittance platforms,” the Governor said.
According to him, such products could deepen financial intermediation while creating new channels for mobilising diaspora resources for productive economic activities.
This presents an opportunity to deepen financial intermediation and mobilise diaspora funds for productive investment in the Ghanaian economy,” Dr. Asiama stated.
BoG to develop national remittance strategy
The Governor also disclosed that the Bank of Ghana would collaborate with relevant stakeholders to develop a national remittance strategy.
The strategy is expected to focus on strengthening remittance inflows while increasing the proportion of funds directed towards savings, investment and other productive activities that support economic development.
The Bank of Ghana remains committed to working with relevant stakeholders to develop a national remittance strategy aimed at enhancing remittance flows into the economy and ensuring that a greater proportion of these inflows are channelled towards savings, investment, and broader economic development,” he said.
The initiative forms part of the central bank’s broader efforts to deepen Ghana’s financial system and ensure that the country’s substantial diaspora resources contribute more directly to domestic investment and economic growth.
