Ghana exploring diaspora bonds to fuel development – BoG Governor
The Governor of the Bank of Ghana, Dr. Johnson Asiama, says the central bank is exploring diaspora bonds and structured investment vehicles as part of efforts to channel remittance inflows into long-term development financing.
Speaking at a roundtable on the “Central Bank Bridge: Remit2Invest” in the United States on Sunday April 19, 2026, he outlined a policy direction aimed at transforming remittances from consumption-driven flows into investment-led capital, anchored on stronger regulatory oversight and innovation in financial products.
The Governor noted that Ghana's remittance ecosystem has evolved rapidly, supported by collaboration among banks, fintech firms and global payment operators.
He explained that recent policy measures by the central bank are focused on deepening formal remittance channels, improving transparency in the foreign exchange market, strengthening reporting standards and supporting digital cross-border payment infrastructure.
“Remittance products in Ghana are quite diverse and have evolved rapidly, driven through effective collaboration with banks, global market operators, fintech innovation, and strong diaspora inflow. I can give examples. There is a bank-based remittance product. There is a mobile money remittance product. There is a fintech or digital remittance app, which some of them use. Cross-border payments platforms, and aggregators. And then, of course, there is a cash pickup and agent network product, also being used.
“Accordingly recent policy actions are focused on enhancing formal remittance structure, strengthening transparency in the foreign exchange market, supporting digital cross-border payment systems, and improving the integrity, quality, and reporting of remittance data. For us at the Bank of Ghana, we are aligning this approach with the international best practice. We are exploring diaspora bonds and structured investment vehicles…promoting foreign currency-dominated investment products through supervised industry players, strengthening regulatory requirements for cross-border flows, and establishing more structured and continuous diaspora engaging platforms,” he said.
Dr. Johnson Asiama, also indicated that the central bank is leveraging fintech partnerships to reduce remittance costs and ease settlement bottlenecks across cross-border transactions.
The Governor further indicated that efforts are underway to build structured and continuous engagement platforms for the Ghanaian diaspora, with the aim of making investment pathways into sectors such as government securities, SMEs, fintech, real estate and infrastructure more seamless and credible.
He pointed to successful models in countries such as Philippines, Mexico and India, which have deployed targeted instruments and policy frameworks to mobilize diaspora capital for development.
Ghana, he said, intends to adapt these approaches within its domestic financial architecture.
“We are leveraging fintech partnerships to reduce remittance costs and settlement friction, including the responsible use of digital ledger and organization-based models to improve speed, to improve traceability, and to improve efficiency in cross-border remittance and investment flows. We are doing all this within a sound regulatory and supervisory framework. We are working to ensure that when a Ghanaian in Washington or elsewhere decides to invest in Ghana, whether in government securities, whether in SMEs, whether in fintechs, whether in real estate, or whether in infrastructure, that the pathway to doing this is seamless, it is credible, credible, and it is rewarding. These initiatives are informed by proven global best practices from emerging markets here,” he mentioned.
The Governor emphasized that the Ghanaian diaspora remains a critical pillar of the country's external stability and economic transformation agenda, with the potential to serve as a reliable source of capital even during periods of economic stress.
“The Ghanaian diaspora is not peripheral to our economy. You are not peripheral. You are central to our external stability, to our investment strategy, and our economic transformation agenda. If we harness this well, our diaspora can become a reliable source of long-term capital, even during crisis and we must treat the diaspora as domestic investors that are abroad, not as external senders of money,” Dr. Johnson Asiama stressed.
---CitiNewsRoom