Ghanaians living abroad have been encouraged to explore investment opportunities in their home country to help develop various sectors of the economy.

Speaking at a Ghana Diaspora Investment Forum in Accra yesterday, the Canadian High Commissioner to Ghana, Myriam Montrat, said a significant portion of Ghanaians in the diaspora did not have financial connections with banks in Ghana and other investment opportunities.

While advocating an intensified awareness creation on investment opportunities for members of the diaspora by stakeholders, Ms Montrat also emphasised the need for members of the diaspora to utilise available services and resources, including Ghana’s missions abroad as well as trade offices, to explore investment opportunities. 

Diaspora forum

Organised by the Global Affairs Canada, Fidelity Bank Ghana Limited, and the German Development Cooperation (GIZ), the forum attracted over 100 public and private sector stakeholders such as policymakers, development partners, financial institutions and diaspora-focused organisations, including the Diaspora Affairs Office of the President.

Also at the forum were the Ghana Investment Promotion Centre (GIPC), Impact Investing Ghana/Savanah Impact Advisory, Opportunity International Canada (OIC), and the United Nations Industrial Development Organisation (UNIDO).

The forum focused on fit-for-purpose mechanisms to channel remittances into productive sectors and shifting the trend towards long-term and job-creating investments, on the theme: "Why Ghana diaspora should invest in their country of origin: perspectives of Ghana’s financial institutions".

Some dignitaries present at the forum were the Ambassador of Canada to the African Union, Ben Marc Diendere; the EU Ambassador to Ghana, Irchad Razaaley; the GIZ Country Director, Dr Dirk ABmann, and the Founder and Head of Mission of the Africa Diaspora Forum, Dr Erieka Bennett.

The Canadian envoy highlighted the exponential contribution members of the diaspora had made to the country’s economy over the years.

“In 2024, remittances to Ghana reached approximately $6.65 billion, exceeding the combined foreign direct investment and official development assistance.”

“This is a powerful testament to the economic strength and commitment of the Ghanaian diaspora,” she stated.

Ms Montrat added that in Canada alone, the Ghanaian-born population was estimated at over 100,000, many of whom “are professionals in government, health care, education and business. Others are entrepreneurs trading Ghanaian and African products.

Yet, the full scope of the financial contributions from Diaspora to Ghana remains underreported and underutilised,” the High Commissioner stated. 

She called on stakeholders to do more “to track, measure and amplify these contributions not just as remittances but as strategic investments that drive development outcomes”.

Investment gap, engagement barriers

The Head of Partnerships, Sustainability and CSR at Fidelity Bank Ghana, Nana Yaa Afriyie Ofori-Koree, highlighted a paradox of Ghanaians living abroad sending billions back home as remittances while investing very little.

“A recent study found that only 43 per cent of Ghanaian diaspora have savings or deposit accounts in Ghana, and even fewer (about 12-16 per cent) invest in a business or government bonds.

“Alarmingly, about 36 per cent of diaspora respondents reported having no formal savings or investment in Ghana at all. In other words, a third of Ghanaian professionals living overseas have no concrete ties to our financial sector,” she said.

Ms Ofori-Koree said that the gap meant that the country was missing out on a huge pool of talent and capital.

She said although many Ghanaians abroad had registered interest to invest in the country, they often felt far from the process as they faced “red tapes, lack of clear information or simply the hustle of managing a portfolio while overseas,” adding that  “let’s not overlook the trust deficit”.

She, however, encouraged Ghanaians in the diaspora to change the narrative because banks and the government had turned the spotlight on the diaspora and lowered barriers as well as designed products with the diaspora in mind.

Using Fidelity Bank Ghana as an example, she said: “We have the Non-Resident Ghanaian (NRG) account – a specially designed account that lets Ghanaians abroad manage their money back home easily.”

Ms Ofori-Koree explained that Ghanaians abroad could open an account online, save in cedis or dollars, pay bills, fund investments or send money to relatives with just a few taps from anywhere in the world”.

On the side of the government, she said policies were being improved to welcome diaspora investment, with regulators also making it easier for banks to innovate.

“Across the sector, we see a growing ecosystem: fintech firms building diaspora-friendly apps, government programmes encouraging diaspora entrepreneurs, and even ideas like diaspora bonds being explored.

These mean that if you want to invest $5,000 or $500,000 in Ghana today, there are more avenues than ever before to make it happen smoothly and securely,” Ms Ofori-Koree said.