UK Remittances to Ghana Dip—BoG Eyes New Incentives to Boost Diaspora Flows!
Remittances from the UK are still a major source of foreign exchange for Ghana, but Bank of Ghana (BoG) data shows that this corridor is losing steam. In January–September 2024, it made up 28% of total inflows, but by the same time in 2025, it had dropped to 17.5%. At the London–Accra Economic Growth Summit in Accra, BoG Governor Dr. Johnson Asiama talked about how important diaspora funds are not only for household consumption but also as a possible source of long-term investment in areas like small and medium-sized businesses (SMEs), housing, agriculture, and youth employment. He called remittances a “structurally important and counter-cyclical source of foreign exchange” and stressed the need for policy changes and incentives to increase the amount of money coming in. The central bank is also making payment systems and rules stronger to make sure that remittance flows stay efficient, clear, and helpful to Ghana’s foreign exchange stability while also helping the economy grow in the long term.
