IFC urges Ghana to leverage on diaspora for growth

The Minister of Finance, Dr Cassiel Ato Forson, has held high-level discussions with the Managing Director of the International Finance Corporation (IFC), Mr Makhtar Diop, to deepen Ghana’s partnership with the global development finance institution and drive private sector growth.

In a post on Facebook on Saturday, April 26, 2025, Dr Forson said during the discussions, Mr Diop encouraged Ghana to adopt a more strategic approach to investment by targeting sectors that could deliver better economic returns.

He also noted with concern that Ghana was not fully harnessing the potential of its diaspora, describing it as an underused resource that could contribute meaningfully to national development.

Dr Forson, in response, thanked the IFC for its ongoing support and conveyed warm greetings from President John Dramani Mahama.

He said the government would be pleased to welcome Mr Diop to Accra soon to continue the discussions.

The Finance Minister stated that Ghana was determined to attract greater private sector investment, particularly in infrastructure and agriculture, to support the country’s economic recovery. He called for stronger ties between the IFC and Ghana to help advance these efforts.

Also present at the meeting was the Governor of the Bank of Ghana, Dr Johnson Asiama, who underlined the importance of strengthening the financial sector.

Dr Asiama said the IFC’s support would be helpful in stabilising specialised deposit-taking institutions, which are currently undergoing recovery following sector-wide reforms.

The Chairman of the National Development Planning Commission (NDPC), Dr Nii Moi Thompson, and Senior Economic Advisor at the Ministry of Finance, Mr Seth Terkper, also participated in the discussions.