The Chief Executive Officer of the Ghana Gold Board (GoldBod), Sammy Gyamfi, has called on the African diaspora to move beyond remittances and become strategic investors in Africa's transformation. He stressed that the continent's future must be built on ownership, value creation, and productive partnerships. This appeal was made at the Africa Rising Symposium, organized by EMY Africa in London.
Mr. Gyamfi highlighted that while remittances have sustained millions of African families, the continent now requires long-term investments. These investments are essential for creating new enterprises, generating employment, and strengthening vital institutions. He stated, "Remittances are lifelines, but investments build self-sustaining engines. Remittances help households survive, but investments help economies transform."
This call aligns with Ghana's broader economic strategy to enhance local ownership and value retention from its resources. The government aims to reduce reliance on external aid and short-term financial inflows by fostering sustainable domestic and diaspora-led investment. Ghana's economic narrative increasingly focuses on attracting capital into productive sectors to achieve self-sustaining growth and reduce economic vulnerabilities.
Mr. Gyamfi further urged the diaspora to invest in key productive sectors including manufacturing, agribusiness, information technology, healthcare, infrastructure, green energy, and value addition. He also encouraged them to contribute skills, mentorship, and governance expertise to support Africa's next generation of entrepreneurs. He challenged African governments to create a stable environment for diaspora investment through consistent policy, transparent institutions, and respect for contracts.
The implications of such a shift are significant for Ghana's economy. Increased diaspora investment could lead to job creation, technology transfer, and enhanced foreign exchange earnings, reducing pressure on the Ghana cedi. It could also foster greater economic resilience and reduce dependence on volatile commodity prices. Decision-makers will be watching for policy reforms that facilitate these investments and ensure their security and profitability.
Under Mr. Gyamfi's leadership, GoldBod has prioritized formalizing Ghana's gold trade through regulatory reforms. The institution has strengthened efforts to combat gold smuggling and promoted responsible, traceable gold sourcing. These interventions are designed to safeguard Ghana's valuable national assets and maximize value retention. GoldBod also supports the Bank of Ghana's gold reserve accumulation program, contributing to a stronger and more resilient economy.
Mr. Gyamfi commended President John Dramani Mahama for championing policies aimed at resetting Ghana's economy. These policies focus on strengthening African ownership of strategic sectors while encouraging mutually beneficial foreign investment. He concluded his address by calling for a new partnership between the continent and its diaspora to ensure Africa retains greater value from its resources and creates opportunities for its youthful population. "Fellow Africans, Africa is rising. Let Africans rise with her," he declared.