• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana’s Remittances For 2025 Potentially to Underperform 2024’s $6.6Bn Milestone Over New US Bill

5 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
1.2k
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s Remittances For 2025 Potentially to Underperform 2024’s $6.6Bn Milestone Over New US Bill

Ghana’s remittance inflows could decline significantly in 2025 if the United States Congress passes the Border Security Investment Act, a bill that proposes a 37% fee on outbound remittances sent via money service businesses to selected countries with high levels of undocumented immigration.

The bill, formally known as H.R. 445, aims to fund US border security operations by taxing money transfers from immigrants to the top five countries whose nationals are deemed to have the highest rates of unlawful entry into the United States, as determined annually by US Customs and Border Protection (CBP).

Although the draft legislation does not name specific countries, recent data from the US Immigration and Customs Enforcement (ICE) shows that several African nations—including Ghana—featured prominently on deportation and inadmissibility lists in 2024. This raises concerns that Ghana may be among the countries subject to the hefty 37% remittance levy.

If enacted, the legislation could reduce the flow of funds from Ghanaians living in the United States to their families back home, with broader implications for household income, education, healthcare, and economic activity.

According to Bank of Ghana (BoG) data, total remittances to Ghana surged to $6.65 billion in 2024, representing a $1.53 billion increase from the $5.11 billion recorded in 2023. The central bank noted that remittance value more than quadrupled during the year, rising from $1.69 billion in March to $6.65 billion by December 2024.

Remittances are a critical source of foreign exchange and household income in Ghana, helping to finance consumption, education, and healthcare for millions of recipients. They also contribute to economic resilience by supporting aggregate demand and easing balance of payments pressures.

RelatedPosts

GSE Closes Slightly Lower as Composite Index Falls 0.25%

Producer Price Inflation Rises Marginally to 3.2% in September 

LaLiga Cancels Barcelona vs. Villarreal Match Scheduled to Take Place in Miami

The World Bank estimates that Africa received approximately $100 billion in remittances in 2023 which is roughly 6% of the continent’s GDP. Countries such as Nigeria, Egypt, Morocco, Kenya, and Ghana are among the largest recipients, making these countries particularly vulnerable to any disruptions in remittance flows.

Tags: Ghana's RemittancesGhana's Remittances Potentially to Underperform 2024's $6.6Bn Milestone Over New US Bill

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Black Queens Coach Confident Ahead Of WAFCON Qualifier Against Egypt

UEFA Champions League: Bayern and Real Madrid Stay Perfect, Liverpool and Chelsea hit Five In Record-Breaking Week

Gold Price Falls by Most in Over a Decade as Rally Cools

Businesses Flock to Ethiopia’s Newly-Opened Banking Market

Among Africa’s Top Performing Currencies — the Zambian Kwacha

PIAC Urges Increased Investment in Petroleum Sector as Ghana Projected to Capture 20% of West Africa’s $80bn Oil and Gas Market by 2033

Trending

Business

GSE Closes Slightly Lower as Composite Index Falls 0.25%

October 23, 2025

GSE Closes Slightly Lower as Composite Index Falls 0.25% The Ghana Stock Exchange (GSE) ended Thursday’s trading...

Producer Price Inflation Rises Marginally to 3.2% in September 

October 23, 2025

LaLiga Cancels Barcelona vs. Villarreal Match Scheduled to Take Place in Miami

October 23, 2025

Black Queens Coach Confident Ahead Of WAFCON Qualifier Against Egypt

October 23, 2025

UEFA Champions League: Bayern and Real Madrid Stay Perfect, Liverpool and Chelsea hit Five In Record-Breaking Week

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.