The International Finance Corporation (IFC) has urged Ghana to fully tap into the economic potential of its diaspora community as part of a broader strategy to drive national development.
This recommendation came during a high-level meeting between Minister for Finance, Dr. Cassiel Ato Forson and IFC Managing Director, Mr. Makhtar Diop, held on the sidelines of the 2025 IMF/World Bank Spring Meetings.
The meeting focused on strengthening cooperation across infrastructure development, agriculture, and financial sector revitalization—pillars identified as critical to Ghana’s ongoing economic transformation agenda.
During the discussions, Mr. Diop expressed the IFC’s keen interest in scaling up its investments in Ghana but stressed the need for a more strategic and targeted approach to maximize productivity and returns.
He noted with surprise that Ghana has yet to fully leverage its diaspora network, describing it as a vast, underutilized resource with immense potential to stimulate economic growth, innovation, and investment.
In response, Dr. Forson thanked the IFC for its continued support, conveying warm regards from President John Dramani Mahama to Mr. Diop and the IFC team.
The Finance Minister reaffirmed Ghana’s commitment to attracting private sector investment, highlighting infrastructure and agriculture as priority sectors where deeper collaboration could yield transformative outcomes.
“We are keen to expand our partnership with the IFC, especially in priority sectors that align with Ghana’s development goals,” Dr. Forson said.
Also present at the meeting was the Governor of the Bank of Ghana, Dr. Johnson Asiama, who emphasized opportunities for enhanced cooperation in the financial sector.
Dr. Asiama stressed the importance of stabilizing and revitalizing Ghana’s specialized deposit-taking institutions, many of which are still recovering after comprehensive financial sector reforms. He highlighted the critical role the IFC could play in supporting financial stability, promoting inclusion, and strengthening the broader financial ecosystem.
The meeting was also attended by Dr. Nii Moi Thompson, Chairperson of the National Development Planning Commission (NDPC), and Mr. Seth Terkper, Presidential advisor on the economy..
Both officials underscored the need for strategic partnerships and smart investments to drive Ghana’s long-term development agenda and enhance resilience against future economic shocks.
