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

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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.

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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.

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Ghana Revokes Adamus Resources Mining Leases Over Illegal Activities, Chinese Nationals, and Environmental Damage

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The government has cancelled three mining leases held by Adamus Resources Limited following investigations that uncovered unlawful sub-contracting, unpermitted operations, and foreign national involvement in “galamsey” — with criminal charges now possible.


In a decisive move against regulatory violations in the extractive sector, Ghana’s Minister for Lands and Natural Resources has revoked the Akango, Salman, and Nkroful mining leases of Adamus Resources Limited.

The decision, announced in a press statement on Sunday, April 26, follows a series of investigations by the Minerals Commission that uncovered multiple instances of illegal and unauthorised mining activities in direct breach of the Minerals and Mining Act, 2006 (Act 703) and related regulations.

The revocation, made pursuant to Section 100(2) of Act 703, is deemed to be in the public interest, particularly where mineral rights have been used to facilitate illegal mining activities — commonly referred to as “galamsey” — or where statutory requirements have been fundamentally violated.

Six Major Breaches Uncovered by Investigators

According to the Ministry, investigations supported by documentary and photographic evidence revealed several serious infractions by Adamus Resources Limited:

  1. Unlawful Sub-Contracting: The company sub-contracted mining operations on its concessions without obtaining necessary ministerial consent as required under Section 14 of Act 703.
  2. Illegal Mining Without Permits: Operations were carried out without approved mining operating plans or valid permits from the Chief Inspector of Mines, violating Regulation 8(1) of the Minerals and Mining (Health, Safety and Technical) Regulations, 2012 (LI 2182).
  3. Failure to Obtain Regulatory Approvals: The company did not secure essential approvals from bodies including the Environmental Protection Authority (EPA), in breach of Section 18 of Act 703.
  4. Engagement of Foreign Nationals in Illegal Mining: Specifically, Chinese nationals were involved in “galamsey” activities on the affected concessions — a direct contravention of Section 99(5)(a) and (b) of the Minerals and Mining (Amendment) Act, 2019 (Act 995).
  5. Substandard Mining Operations: Activities took place outside designated mining areas, far from approved infrastructure, and fell below regulatory standards.
  6. Environmental Degradation: The illegal operations caused significant land disturbance and ecosystem destruction, posing serious risks to water bodies, public health, and the livelihoods of surrounding communities.

Criminal Charges Not Ruled Out

The government made clear that revocation of the leases is not the end of the matter. The decision does not preclude the possibility of criminal charges being brought against the company, its directors, and management under the Minerals and Mining (Amendment) Act, 2019 (Act 995).

“The government has made it clear that it will take all necessary steps to hold those responsible for the illegal mining activities accountable,” the statement read.

The Ministry has also reassured the public that steps will be taken to protect the jobs and livelihoods of workers impacted by the revocation of the leases, with further measures to support affected workers to be announced in due course.

Broader Implications for Ghana’s Mining Sector

The revocation of Adamus Resources Limited’s mining leases signals an intensification of Ghana’s crackdown on regulatory violations in the extractive industry, particularly those linked to “galamsey” — a persistent challenge that has caused widespread environmental damage across the country.

For global investors and mining operators in West Africa, the decision serves as a clear warning that Ghanaian authorities are prepared to enforce compliance with mining laws, including provisions against unauthorised foreign participation and environmental negligence.

The move also aligns with broader regional efforts under ECOWAS to combat illegal resource extraction, which has been linked to financing for non-state armed groups and transnational criminal networks.

Adamus Resources Limited has not yet issued a public response to the revocation. The company’s mining leases covered concessions in the Western Region, an area known for significant gold deposits and active small-scale mining operations.

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Ghana’s Non-Traditional Exports Surge Past $5 Billion in 2025: A 30.7% Jump Signals Strategic Shift

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Ghana achieved a landmark economic milestone in 2025, generating over $5 billion from non-traditional exports (NTEs), a staggering 30.7% increase from the previous year, according to the Ghana Export Promotion Authority’s (GEPA) 2025 Non-Traditional Exports Statistics Report.

The double-digit surge underscores a decisive shift away from raw commodity dependence toward value-added and diversified export sectors, with cocoa derivatives, cashew, shea, plastics, and processed foods leading the charge.

For entrepreneurs and investors eyeing the export market, the message from the data is unambiguous: strategic, informed entry is everything.

“The opportunity is not just in exporting… It’s in exporting strategically,” one market analyst noted, emphasising that success hinges on studying what is already working rather than starting randomly.

Top-Performing Non-Traditional Exports in 2025

The GEPA data reveals a clear hierarchy of high-value earners. Cocoa paste – a processed derivative of raw beans – topped the list, bringing in an impressive $789 million.

Cocoa butter followed closely at $635 million, demonstrating the growing global appetite for Ghanaian value-added cocoa products rather than raw beans.

Other standout performers included:

  • Iron and steel products: $316 million
  • Cashew nuts: $297 million
  • Articles of plastics: $217 million
  • Cocoa powder: $233 million
  • Canned tuna: $213 million
  • Shea nuts and shea oil (combined): Over $350 million
  • Aluminium products: $165 million

The Strategic Takeaway

The 30.7% year-on-year growth reflects a deliberate national strategy to move up the value chain. Cocoa paste, butter, and powder – all processed forms of Ghana’s signature crop – collectively earned over $1.65 billion, far surpassing what raw bean exports would have generated. Similarly, shea nuts and oil, cashew nuts, and canned tuna point to a thriving agro-processing sector.

For new entrants, the data offers a roadmap. High-performing categories such as plastics and aluminium products also signal opportunities beyond agriculture, including light manufacturing and industrial processing.

“If you’re serious about exporting, here is where you start looking,” the commentary concluded, pointing aspiring exporters directly toward Ghana’s proven growth sectors.

With global demand for processed agricultural goods and manufactured products continuing to rise, Ghana’s NTE success story in 2025 positions the country as a competitive player in international trade.

The challenge now for policymakers and private sector actors alike is to build on this momentum, deepen processing capabilities, and open new market access corridors.

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Ghana Commits $250 Million to World-Class AI Computing Centre

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ACCRA – The Government of Ghana will invest $250 million to establish a world-class artificial intelligence computing centre, with an additional $20 million committed to support the short to medium-term implementation of the country’s National AI Strategy, President John Dramani Mahama announced on Friday, April 24, 2026.

Speaking at the launch of Ghana’s National Artificial Intelligence Strategy (2025-2035), the President described the investment as bold but necessary, arguing that AI cannot thrive without the infrastructure to support it.

“Data, computing power, connectivity and energy are now as strategic to the digital age as roads, ports, railways and power plants were to earlier eras of development,” Mahama said.

He added that the government was taking deliberate steps to strengthen the national data centre and ensure the country’s digital backbone was secure, resilient and capable of supporting growing AI demands.

The proposed AI Computing Centre, the President explained, would serve as a hub for research, innovation and enterprise, equipping Ghanaian talent with the tools to build solutions not only for Ghana but for the wider African continent.

Measurable Targets and Accountability

Mahama said the scale of the investment reflected the seriousness with which the government was approaching the AI agenda, emphasising that transformation must be measurable, accountable and results-oriented rather than merely rhetorical.

To that end, the government has introduced key performance indicators across ministries, departments and agencies to drive measurable adoption and integration of AI across the public sector.

Call for Partnerships

The President acknowledged, however, that government alone could not build a thriving AI ecosystem. He called on academia, civil society, industry and development partners to join the effort.

“To those who have yet to join this effort, I extend an invitation to partner with us in implementing this strategy,” Mahama said. “Invest in Ghanaian talent, support Ghanaian innovation, work with us to build an AI future anchored in inclusion, shared prosperity and African relevance.”

One Million Coders Programme and Curriculum Reform

The financial commitments come alongside Ghana’s One Million Coders programme, which has already processed over 100,000 applications. The programme is targeting the training of at least 300,000 Ghanaians this year across more than 15 courses in 10 disciplines.

The government also plans to introduce AI coding, robotics and electronics at the basic school level following a curriculum review expected to be completed by the end of June 2026.

Vision for 2035

By 2035, President Mahama said, the ambition is to have built a national AI ecosystem that expands literacy and access, strengthens jobs and entrepreneurship, supports local innovation, deepens data sovereignty, and improves public service performance.

The announcement positions Ghana as one of the largest public investors in AI infrastructure in West Africa, competing with regional peers such as Nigeria and Côte d’Ivoire, which have also signalled interest in AI development.

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