In a previous post, I addressed the hundreds of African Americans and Afro-Caribbeans who were granted citizenship to Ghana for the “Year of Return.” Well, I came across some additional news that’s tied to that. The following information comes out of Face2Face Africa and Business Ghana.
Ghana will offer a $3 billion bond for African Diasporans before the end of 2020. The Minister of Finance, Ken Ofori-Atta, advised plans to establish the savings/investment account to attract people of African descent to invest in various sectors of the country. Details for the proposal are still being discussed, but the plan is to raise money for infrastructure, tourism, and agricultural development. The account will be dubbed the African Sankofa Account, and it will be a vehicle to the bond issue in the future.
Mr. Ofori-Atta advised the following:
“There is going to be quite a number of meetings between the Ministry, the Bank of Ghana and the Ghana Investment Promotion Centre to discuss so that we will create this instrument, which will enable the funds to flow and how to get the retail impact of this investment account.
Our expectation is that we could attract about $3billion, the same level as remittances currently in a period of a year or two.”
Until Next Time…