GoldBod Chief Calls for Shift from Remittances to Investment as Ghana Courts Diaspora Capital

Ghana is seeking to redefine the economic role of its diaspora by encouraging overseas citizens to move beyond family remittances and channel more of their wealth into long-term investments capable of accelerating national development.

Speaking at the Africa Rising Symposium in London, Ghana Gold Board (GoldBod) Chief Executive Sammy Gyamfi urged Africans abroad to deploy their financial resources, expertise and global networks into productive sectors rather than limiting their contribution to household support.

“Remittances are lifelines, but investments build self-sustaining engines,” Mr Gyamfi said, arguing that while remittance inflows ease household financial pressures, investment capital has the potential to create jobs, expand industries and generate long-term economic value.

The appeal comes as Ghana increasingly views its diaspora as a strategic source of development finance. Bank of Ghana data show remittances reached nearly US$7.8 billion in 2025—more than triple the country’s foreign direct investment inflows—highlighting the enormous pool of capital available if even a modest portion can be redirected into productive enterprises.

GoldBod’s proposal aligns with broader government efforts to transform diaspora transfers from consumption-driven inflows into investment-oriented capital supporting manufacturing, agribusiness, technology, healthcare, infrastructure, renewable energy and value-added industries. Such a transition could deepen domestic capital formation, improve foreign exchange resilience and reduce Ghana’s dependence on external borrowing.

The strategy also complements GoldBod’s wider reforms aimed at formalising Ghana’s gold trade, increasing transparency, mobilising foreign exchange and retaining greater value from the country’s mineral resources. By encouraging diaspora participation in strategic sectors, authorities hope overseas investors will become long-term partners in Ghana’s industrialisation agenda rather than remaining primarily providers of household income.

Economists, however, note that attracting diaspora investment will require more than policy appeals. Investors typically demand macroeconomic stability, regulatory certainty, transparent governance and credible investment vehicles before committing significant capital. Strengthening those fundamentals will determine whether Ghana can successfully convert billions of dollars in annual remittances into a sustainable engine for economic growth.