The Bank of Ghana has identified remittance inflows as a growing pillar of the nation’s foreign exchange stability, with First Deputy Governor Dr. Zakari Mumuni outlining plans to optimize these flows through financial sector reforms.
“Remittance inflows are becoming a critical element in our FX build-up,” Dr. Mumuni stated, emphasizing the potential to transform diaspora transfers into structured investments for national development.
Speaking on the central bank’s strategy, Dr. Mumuni revealed upcoming measures to address persistent banking sector challenges, including a new directive targeting non-performing loans through mandatory write-offs and stricter restructuring rules. The bank has already implemented cybersecurity safeguards and sustainable banking principles to strengthen the financial ecosystem. These reforms coincide with efforts to streamline remittance processes, reducing costs and improving transparency for Ghanaian workers abroad.
The deputy governor noted the banking sector’s continued resilience in 2025, with improving financial soundness indicators despite ongoing asset quality concerns. The central bank’s dual focus on stabilizing domestic banking while attracting diaspora capital reflects Ghana’s broader economic strategy to diversify foreign exchange sources and deepen financial inclusion.
