Ghana targets $3 billion diaspora funding for investment

Ghanaian Finance Minister, Ken Ofori-Atta

Ghana is targeting its diaspora to raise $3 billion in funding for economic development, according to the country’s Finance Minister, Ken Ofori-Atta.

The country will structure an investment vehicle to offer better rates than what depositors typically can earn in countries such as the U.S.

According to Ofori-Atta, the ministry is in talks with the central bank about the proposal’s details and plans to launch the programme later in the year.

The funding will be used to build infrastructure and develop the agricultural and tourism industries.

President Nana Akufo-Addo’s government seeks to boost development and accelerate growth in the world’s second-biggest cocoa grower and Africa’s largest gold producer ahead of elections scheduled for December.

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