Latest News

Finance & InvestmentTue, 7 Sep, 21

Diaspora Remits Over US$3billion to Ghana Annually – Yofi Grant

Diaspora Remits Over US$3billion to Ghana Annually – Yofi Grant

The Chief Executive of Ghana Investment Promotion Centre (GIPC), Mr. Yofi Grant, has underscored that the diaspora is very critical to government’s investment attraction quest adding that they remit more than US$3billion every year which he believed is significant to place focus on them.

He made this revelation during his presentation at the ‘Investing in Ghana’ forum by Ghana Community Awareness Forum under the auspices of the ‘Ghana Union UK’ on Friday, September 3, 2021.

 He explained that the target of government is to create Investment vehicles that attracts returns to make it more attractive to people in the diaspora.

“We recognise that the diaspora particularly is a very important resource. In every year, the diaspora remits inwardly some US$3billion which is much more than averagely what we have been doing in Foreign Direct Investments.

“This money comes inside through friends, relatives, family, etc., remittances and very often the remittances do not get any return. So, the intention is to create investment vehicles [like diaspora bonds] where they just do not remit money and the money goes away either spent by some profligate recipient or it’s supposed to be used for housing and the house never materializes.

“Now we want to structure it such that when you invest in an instrument like the diaspora bond, you get a return so that your money just does not come one way, you get a return which will make it more attractive to people in the diaspora,” he said.

Mr. Yofi Grant noted that there is an aggressive reforming of the business and investment sectors to make sure it is more conducive and friendly for not only foreign investors but also businesses.

He concluded by adding that the objective of this reformation is to ensure that in the medium to long-term, Ghana would be the most attractive place to do business on the continent.

 

Source: Mohammed Bomanso Issah (Real Estate Times Africa)

Welcome, Today is Fri, 29 Mar, 2024

Latest Publication

 The Market

  • Bank

  • Rate

  • Tenure

  • Ecobank

  • 23%

  • Fidelity Bank

  • 22%

  • First National Bank

  • 23%

  • Republic Bank

  • 22%

  • 10yrs

  • Stanbic Bank

  • 20.30%

  • Cement

  • Weight

  • Price

  • Cimaf

  • 50kg

  • GHS 47.00

  • Dangote

  • 50kg

  • GHS 50.00

  • Diamond

  • 50kg

  • GHS 48.00

  • Ghacem

  • 50kg

  • GHS 50.00

  • Pozzolana

  • 50kg

  • GHS 47.00

  • Safe

  • 50kg

  • GHS 47.00

  • Supacem

  • 50kg

  • GHS 47.00

  • Currency

  • Buying

  • Selling

  • GHS - EUR

  • 7.7430

  • 8.2360

  • GHS - GBP

  • 9.1678

  • 9.7446

  • GHS - NGN

  • 70.4182

  • 70.4370

  • GHS - USD

  • 7.0500

  • 7.4500

  • GHS - ZAR

  • 0.4608

  • 0.5068

  • Current

  • Year Ago

  • GDP Growth Rate

  • 4.64%

  • 0.88%

  • Ghana Reference Rate

  • 14.50%

  • 15.50%

  • Inflation

  • 8.97%

  • 9.87%

  • Policy Rate

  • 13.50%

  • 14.50%

  • T-Bill (182 days)

  • 12.4316%

  • 13.2555%

  • T-Bill (364 days)

  • 13.8773%

  • 16.1134%

  • T-Bill (91 days)

  • 12.6100%

  • 12.4701%

Videos

Opinion

Partners

Feedback Form

We would like to hear from you.
Top