Government has indicated it will establish the “African Sankofa Savings Account”, a Diasporan investment and savings fund, to provide investment opportunities for the Diaspora Community worldwide.
Ken Ofori–Atta, Minister for Finance, who disclosed this at a press briefing recently in Accra, said the fund would welcome both high and low-income earners in the Diaspora who wanted to invest in their homeland.
According to him, that would present another source of revenue for Ghana, where the funds “would be invested in tourism infrastructure, agriculture value addition, real estates, music, culture, retirement homes, etc.”
He noted that the fund had the potential of raising about three billion dollars within a year or two, with the yield results moving beyond what traditional exports were earning currently.
He said his outfit, Bank of Ghana and Ghana Investment Promotion Centre (GIPC) were collaborating and working on the modalities, which are expected to be made public soon.
Minister of Tourism, Culture and Creative Arts, Barbara Oteng Gyasi, has lauded the project saying, one of the seven pillars government has adopted in ‘Beyond the Year of Return’ was to create investment opportunities for the Diasporans and establish the Sankofa fund.
Describing activities which marked the Year of Return as successful, she said the private sector should desist from needlessly increasing the price of their goods and services, since that could distract tourists to other destinations.
Some Africans from the Diaspora who have lived in Ghana for a number of years who were present at the event lauded the government for the initiative. They said they were ready to support government initiatives that would bring more Diasporan investors and visitors back home.
The “Year of Return, Ghana 2019” is a major landmark and birth-right journey inviting the Global African family, home and abroad, to mark 400 years of the arrival of the first enslaved Africans in Jamestown, Virginia.
Close to a million Diasporans are believed to have visited Ghana.
Source: Daily Guide
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Only God can save us from these family and friends govt oooooooooo
This is a use/less initiative from a gov't that is unable to pay innocent peoples lucked up funds by their own initiatives of so called SAVING PEOPLES MONEY.The Receiver. The Finance Minister and Akuffo Addo must be prosecuted for deceiving us.ELECTION is right here let us PUNISH NPP for their backward thinking.
Inflation and Foreign Exchange depreciation will ***barred word*** up any possible gain. This is not a good investment for Diasporans. Another Plot for Ofori-Attah to run Ghana's finance like an investment shop which is RISKY, RISKY, RISKY
These npp thievves will do everything to swindle these African Americans and the entire african in the diaspora. The whole year of return is programmed in such a way for the akyem mafias to enrich themselves. Diasporan savings accounts for what? Ofori atta would go to prison peeeerrrr when we take over in 2020 December.