The High Commissioner of Canada to Ghana, Her Excellency Myriam Montrat, is advocating for stronger incentives to encourage Ghanaians in the diaspora to scale up their investments in the country. She emphasized that sustaining remittance-driven economic growth must remain a top priority.
Speaking at the Ghana Diaspora Investment Forum in Accra, H.E. Montrat referenced Bank of Ghana data showing that total remittances in 2024 reached $6.65 billion—far surpassing Foreign Direct Investment (FDI), which stood at $1.73 billion over the same period. She called for improved communication strategies to mobilize greater diaspora engagement to boost the national economy.
“For us as Canadians, we are looking at how we can impact development in Ghana. To do that, we must look beyond international assistance. When we talk about international aid, Canada contributes approximately $150 million. In comparison, remittances total $6.65 billion. It’s important to highlight both to fully understand the contributions of Ghanaians abroad, Canada, and other countries to Ghana’s development,” she noted. “There are many tools to better communicate with the diaspora and incentivize them to invest meaningfully in their country.”
European Union Ambassador to Ghana, Irchad Razaaly, also emphasized the EU’s commitment to development-oriented migration partnerships. “Unlocking diaspora capital is not just about financing. With the right framework, the diaspora can be an engine of inclusive growth. The EU remains committed to creating pathways for diaspora investment as a bridge between migration and sustainable development,” he said.
The Head of Partnerships, Sustainability, and CSR at Fidelity Bank, Nana Yaa Ofori-Koree, speaking on behalf of the Managing Director, Julian Opuni, reiterated the bank’s commitment to serving the Ghanaian diaspora.
“For instance, Fidelity Bank offers the Non-Resident Ghanaian Account—a specially designed account that enables Ghanaians abroad to manage their finances back home with ease,” she explained.
Country Director of GIZ Ghana Dr. Dirk Aßmann, highlighted the impact of innovative financing platforms such as WIDU.africa, funded by the German Federal Ministry for Economic Cooperation and Development (BMZ).
“WIDU transforms remittances into business capital by matching diaspora contributions with grants and offering tailored business coaching. Over 1,700 entrepreneurs in Ghana have benefited—more than 50% of them women,” he stated.
The Ghana Diaspora Investment Forum convened key stakeholders from government agencies, development partners, financial institutions, and diaspora-focused organizations. Participants included the Diaspora Affairs Office of the President, Ghana Investment Promotion Centre (GIPC), Impact Investing Ghana/Savanah Impact Advisory, Opportunity International Canada (OIC), and the United Nations Industrial Development Organization (UNIDO).
