Government says it is targeting African diasporas particularly Ghanaian diasporas in next year’s $3 billion – or $5 billion if market conditions prove favourable – Eurobond issuance.
Citing similar initiatives taken by Kenya and Nigeria, the Minister for Finance, Ken Ofori-Atta told norvanreports that, Africans living in the diaspora have the potential of bringing into the Continent some $60 billion.
“With a huge number of African diasporas nearing retirement and for analysis sake let’s assume they are 2 milion retirees and receiving an average pension pay of $30,000 dollars, that is some $60 billion that could be coming to the African Continent in investments and so it is our duty to set the platform to encourage diasporas to come and invest in the country,” he averred.
Asked how much he expected the diaspora community to contribute to the $3 billion bond issuance, the Finance Minister was unable to tell exactly how much he expected to raise from the diaspora communiity.
Mr Ofori-Atta was speaking to norvanreports on the sidelines of the first ever Diaspora Business Breakfast Meeting organized by the Ghana Investment Promotion Centre (GIPC) together with the Ministry of Foreign Affairs and Regional Integration and the Diaspora Affairs at the Office of the President.
The Diaspora Business Breakfast Meeting held under the theme, Creating Connections – Building Ghana Together, is aimed at harnessing the network of opportunities within the diaspora and engage diasporas ready and willing to invest in the Ghanaian economy to support the Government of Ghana’s Ghana Beyond Aid agenda and also re-integrate members of the diaspora into the Ghanaian economy.
