Deputy Finance Minister urges remittances despite cedi strength

Deputy Finance Minister Thomas Nyarko Ampem has encouraged Ghanaians living abroad to continue sending remittances and investing in the country, despite the cedi’s recent appreciation.

Speaking to the Ghanaian community in Germany at the Hamburg Sustainability Conference 2025, Mr. Ampem addressed concerns that the strengthening cedi could discourage financial inflows.

“Don’t hold back. We’re working hard to keep the cedi strong,” he said. “If you wait, expecting the cedi to depreciate before transferring money, you’ll be disappointed. Keep sending funds, we need them. We need the Foreign Direct Investment (FDI).”

Mr. Ampem highlighted ongoing government efforts to stabilize the local currency and drive economic growth. He noted that a stronger cedi ultimately benefits the entire economy and should encourage, not deter, remittances.

“We’re doing our best back home so that you’ll be proud to contribute in any way you can,” he added. “Locally, we’re strengthening the cedi to make Ghana a more attractive investment destination.”

His comments come amid increasing dialogue on how exchange rate fluctuations affect diaspora remittances and investments. In recent years, Ghana has recorded a steady rise in remittance inflows, which play a vital role in supporting households and small businesses.

To stabilize the cedi, the government has adopted tighter monetary policies and improved foreign exchange management strategies. Mr. Ampem expressed confidence in these policies, reassuring Ghanaians abroad that their investments will be secure.

“Your contributions matter. We are committed to ensuring your investments are safe and benefit both you and the nation,” he concluded.