Connect with us

Business

From Dollars to Cedis: How Currency Fluctuations Are Impacting Diaspora Investment in Ghana

Published

on

Ghana’s shifting currency is doing more than moving exchange rates. It’s impacting how the diaspora and foreign investors send money home, buy property, start businesses, and plan long-term investments in the country.

Cedi’s Roller-Coaster: What’s Happening?

After years of sharp depreciation, the Ghanaian cedi staged one of its most dramatic reversals in 2025, gaining as much as 30–40 % against the U.S. dollar by mid-year. At its weakest earlier in the year, the currency hovered around GH¢15.50–15.60 per USD, only to strengthen to around GH¢10.28–10.85 per USD by late 2025.

This rebound is being driven by a blend of tight monetary policy, improved fiscal discipline, foreign exchange (FX) market reforms, and stronger foreign reserves. The Bank of Ghana boosted its Monetary Policy Rate and strengthened forex liquidity, while export revenues from gold and cocoa have helped sustain the inflows that support the cedi.

That reversal has helped lower inflation and ease some cost pressures for ordinary consumers and businesses, and bolstered Ghana’s fiscal position and debt burden.

Impact on Diaspora Remittances and Investments

For many Ghanaians living abroad, rapid cedi appreciation has been a double-edged sword.

On one side, a stronger cedi means a more stable home currency and increased investor confidence—good news for those considering long-term investments like property, startups, or pension fund allocation in Ghana. Reduced volatility is encouraging some diaspora investors to look beyond short-term remittances toward more structured capital commitments.

Indeed, recent diaspora-oriented initiatives, including diaspora bonds and fintech investment platforms discussed by central bank officials, aim to harness overseas capital for sustainable growth rather than simple family remittances.

However, there’s a flip side:

  • Lower remittance conversion value: When the cedi strengthens, every U.S. dollar sent home converts into fewer cedis, reducing the effective support received by families, friends, and dependents.
  • Temporary drop in remittances: Some Ghanaians abroad paused transfers when the cedi’s rapid appreciation made timing and value unpredictable. The central bank at one point noted a near 50 % drop in remittance inflows for this reason.
  • Property affordability shifts: For diaspora buyers and foreign investors, stronger cedi means higher dollar costs for the same assets. A property that cost a certain amount of dollars before may now require more foreign currency to purchase after appreciation—even if the Ghana-cedi price tag hasn’t changed.

In some urban markets like Accra’s luxury real estate sector, diaspora buyers are increasingly focusing on cash purchases in prime locations, attracted by long-term capital growth potential but tempered by exchange rate risk.

Image by Freepik

Banking Fees, Capital Controls and Innovation

Diaspora investors also face costs tied to banking fees, forex spreads, and formal vs. informal channels for remittances and investments. These costs can erode value even when currency trends are favorable. While Ghana has sought to formalize FX flows with stronger interbank liquidity and reduced parallel market distortions, transfer costs remain a real consideration for diaspora households and business founders.

To adapt, the Bank of Ghana and policymakers are promoting diaspora-focused financial instruments, including fintech solutions and structured investment products, to make cross-border capital movements more efficient and development-oriented.

A Human Story: What It Means for Families and Entrepreneurs

For diaspora families, the story isn’t just numbers—it touches everyday life:

  • A mother in the U.S. may find her dollar now buys fewer cedis for school fees, but a more stable cedi could ultimately bring down education costs locally.
  • An entrepreneur planning to open a tech startup in Accra might be encouraged by reduced currency risk and stronger FX reserves, but still navigates higher costs for imported equipment.
  • Property investors must weigh whether short-term exchange rate gains outweigh the long-term potential of Ghana’s growing middle class and urban demand.

One common theme emerging among diaspora groups is the importance of currency stability over sharp swings. Rapid appreciation or depreciation can deter investment and make financial planning difficult, regardless of direction.

Looking Ahead: Stability Over Speculation

Economists often stress that consistent and predictable currency performance is more valuable for investors—whether diaspora or foreign—than volatile gains.

Ghana’s current trajectory shows signs of greater stability, supported by macroeconomic discipline and policy adjustments, but external pressures and structural challenges remain.

For Ghanaians abroad, the path forward is likely a balance between remittances’ safety net role and structured investment that leverages long-term growth opportunities—from real estate and startups to new financial instruments that bridge Ghana with its global community.

Business

‘Afritude’ to the World! Meet The Woman Buiding Africa’s First Global Sports Brand

Published

on

For decades, African nations have produced world-class athletes and champions on the global stage. But according to one entrepreneur, the continent has yet to produce the one thing that could transform its sports economy: a world-class brand of its own.

Nina Baksmaty Djamson, founder of Afritude, is on a mission to change that. Her company is attempting to disrupt the global sports industry through fashion, designing and manufacturing athletic apparel on the African continent for African teams—and, she hopes, eventually for the world.

“Africa has produced world champions. Now it’s time to produce world-class sports brands,” Djamson wrote in a social media post announcing the venture. “For too long we’ve worn everyone else’s story. Afritude is our attempt to change that. Not just to play the game. To own it.”

From Consumer to Creator

In a video accompanying the announcement, Djamson laid out the problem she sees at the heart of African sports culture.

“My name is Nina, and I’m the woman trying to disrupt the global sports industry through fashion,” she said. “For decades, every time we wear Nike, Adidas, or Puma, we are promoting somebody else’s culture, building someone else’s economy, and advertising someone else’s story, often for free.”

The question she asked herself was simple but profound:

What would it look like if Africa built its own?”

The answer is Afritude.

Designed in Africa, Made in Africa

According to Djamson, Afritude has already designed World Cup jerseys for three African countries. Crucially, she says more than 90% of the company’s spending has gone directly back to people on the African continent—from production and manufacturing to creative talent.

“This is not charity,” Djamson emphasized. “This is ownership. This is dignity. This is representation.”

The model stands in stark contrast to the traditional sports apparel industry, where global giants manufacture in low-cost countries outside the continent while selling branded merchandise to African consumers. Afritude aims to keep both the creative and economic value within Africa.

Playing With Dignity

Before becoming a major company, Afritude is already preparing to give back. Djamson announced that the brand plans to donate more than a thousand “chain guards and chain socks” to children.

“Every child deserves to play with dignity,” she said.

The gesture reflects a broader philosophy: that sports apparel is not just about performance or fashion, but about self-respect and representation. For young athletes across the continent, wearing locally designed and locally made gear could carry a different kind of meaning.

An Invitation to Own the Game

Djamson closed her announcement with a call to action directed at Africans everywhere.

“And if you believe Africa should build for itself, wear for itself, and profit from itself, welcome to Afritude,” she said. “Don’t forget to get your jersey.”

The brand’s website, www.Afritudeclo.com, features jerseys and apparel that draw on African aesthetics, colors, and design traditions. While still in its early stages, Afritude represents an ambitious attempt to carve out space for African-owned, African-made products in a global sports market dominated by Western and Asian conglomerates.

A Bigger Movement

Djamson’s initiative aligns with a growing pan-African movement toward economic self-determination. From music and film to fashion and technology, a new generation of African entrepreneurs is asking not just for a seat at the table, but for the ability to build their own tables.

In sports, where Africa’s talent has long been celebrated while its economic returns have often flowed elsewhere, Afritude offers a different vision: one where the continent’s athletes wear their own stories, advertise their own economies, and profit from their own success.

“Africa has produced world champions,” Djamson wrote. “Now it’s time to produce world-class sports brands.”

The game, she believes, is just beginning.

Continue Reading

Business

US Eyes AI, Drones, and Rural 5G as Next Frontier in Ghana Partnership

Published

on

The United States is positioning emerging technologies including artificial intelligence, drone logistics, and rural 5G connectivity as the next frontier in its bilateral relationship with Ghana.

The move signals a strategic shift from traditional aid toward investment-driven partnership, Chargé d’Affaires Rolf Olson has announced.

Speaking at a celebratory event marking the 250th anniversary of American independence, Olson declared that the U.S.-Ghana relationship is entering a new phase defined by “not dependence, but resilience” and “a two-way exchange of investment, innovation, and expertise.”

Chargé d’Affaires Rolf Olson delivering remarks at the 250th Independence Day Celebration in Accra on June 10, 2026.

While acknowledging ongoing changes to the US foreign assistance framework, he emphasized that America remains the largest financial contributor to health emergencies across Africa — including $200 million to the current Ebola response — but pointed to commercial technology ventures as the model for future collaboration.

“As we greet this next phase of our partnership, we see enormous potential for U.S.-Ghana collaboration and commerce in emerging sectors – from digital technology to artificial intelligence, from advanced agriculture to cutting-edge energy techniques,” Olson told an audience of government officials, diplomats, and business leaders in Accra. “Ghana’s young innovators are positioned well to seize these types of opportunities.”

The Chargé d’Affaires highlighted concrete examples of technology-driven partnerships already underway.

He cited Zipline’s drone delivery network, which has completed 800,000 medical deliveries in Ghana since 2019, saving an estimated 10,000 lives, including 1,600 through emergency transport of snake anti-venom alone.

He also revealed US support for deploying “cutting-edge wireless technology at hundreds of base stations across Ghana,” aimed at expanding rural connectivity and bridging the digital divide across West Africa.

Olson framed the vision within a broader narrative of economic self-sufficiency, noting that more than 100 American companies are active in Ghana across energy, technology, and agriculture.

He pointed to Newmont, the single largest taxpayer in Ghana, where 99% of the workforce, including the Country Manager, is Ghanaian. Bilateral trade in goods and services reached approximately $4 billion last year, a figure Olson said “can grow.”

The diplomatic push comes alongside deepened security cooperation. Olson confirmed that just this week, US law enforcement handed over Sedina Tamakloe Attionu to Ghanaian authorities, fulfilling an extradition request, while Ghana has extradited multiple individuals wanted in the US for cyber-related fraud that has stolen tens of millions of dollars from American victims.

Reflecting on the historical ties that bind the two nations, from Richard Nixon meeting Martin Luther King Jr. in Accra in 1957 to Ghana being the first country to welcome Peace Corps volunteers in 1961, Olson concluded that the relationship is now mature enough to pivot toward technology, trade, and mutual resilience.

“Two hundred and fifty years into America’s independence and nearly 70 years into Ghana’s, we look to the future with optimism, confidence, and renewed purpose,” he said.

Continue Reading

Business

How Ghana Is Selling Itself as Africa’s Factory Floor for Belarus

Published

on

President John Dramani Mahama has positioned Ghana as a manufacturing and distribution gateway for Belarusian industry, pitching the country as a strategic entry point to Africa’s unified market of 1.4 billion people under the African Continental Free Trade Area (AfCFTA).

Speaking at the maiden Ghana–Belarus Business Forum in Minsk, President Mahama announced that Belarusian manufacturers of mining equipment will visit Ghana next week, following an agreement between both nations.

The visit signals a potential shift in how Belarusian heavy industry could serve African markets – not merely through exports from Eastern Europe, but through locally established operations within Ghana.

“The investors who establish operations in Ghana gain access not only to a domestic market of 34 million people, but also to the wider African market through the AfCFTA,” President Mahama told the forum. He noted that the trade bloc covers 1.3 billion people with a combined gross domestic product of US$1.3 trillion.

The President’s pitch rests on three pillars: market access, infrastructure investment, and regulatory stability. He highlighted Ghana’s US$10 billion five-year Big Push Infrastructure Programme, which prioritizes roads, railways, ports, airports, energy systems, and logistics networks.

These investments, he said, are designed to improve connectivity, reduce business costs, and enhance competitiveness for firms that establish local manufacturing or assembly operations.

“Investors today seek certainty, stability, and market access, and I can assure you Ghana provides all these three,” Mahama stated. “Our political credentials are strong, our legal and regulatory systems are transparent, investor protection is robust, and we guarantee repatriation of profits.”

The President also noted that Belarusian companies possess relevant expertise in transport infrastructure, power systems, industrial parks, logistics, road construction, railway development, and renewable energy – all sectors where Ghana is actively seeking foreign partnership.

For Belarus, a nation under sustained Western sanctions, deepening economic ties with Ghana offers an alternative channel to participate in one of the world’s fastest-growing continental markets. Rather than exporting finished mining equipment from Minsk, Belarusian manufacturers could establish assembly plants or joint ventures in Ghana, taking advantage of AfCFTA rules to distribute across the continent without the tariff barriers that would apply to direct exports from Europe.

President Mahama framed the opportunity in unequivocal terms: “For businesses seeking a strategic gateway into Africa, Ghana remains one of the continent’s most attractive destinations.”

The upcoming visit by Belarusian manufacturers will test whether that pitch translates into concrete investment. Industry observers will be watching for announcements on local assembly facilities, technology transfer agreements, and the scale of Belarusian commitment to Ghana’s industrialization agenda.

If successful, the partnership could serve as a template for how other non-African manufacturing nations – particularly those from Eastern Europe and Asia – use Ghana as a beachhead to serve the continent’s rapidly growing demand for industrial equipment, infrastructure inputs, and heavy machinery. If not, the visit may produce little more than diplomatic communiqués.

For now, Ghana has made its case. The next move belongs to Belarus.

Continue Reading

Trending