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GHANA: Sankofa Savings Account To Encourage Africa Diasporan Investment Launched

By Published January 08, 2020

Ghanaian government is set to catch in on 'Beyond the Year of Return' the ceremony where diaspora Africans are given citizenship and supported to have roots in Africa with the announcement of the introduction of “African Sankofa Savings Account”, a diasporan investment and savings fund to provide investment opportunities for Diaspora Community worldwide.

Minister for Finance, Ken Ofori-Atta said the fund which has the potential to raise about three billion dollars within a year or two will accommodate both the high and low income earners who want to invest in their homeland, adding that it would be another source of revenue for the country, “these would be invested in tourism infrastructure, agriculture value addition, real estates, music, culture, retirement homes etc.”

The Ministry of Finance, Bank of Ghana and Ghana Investment Promotion Centre are collaborating and working on the modalities which will soon be made public.

Tourism, Culture and Creative Arts minister, Barbara Oteng Gyasi said the Sankofa fund fund was a step in the right direction.

"Throughout the year of return campaign, we have always engaged our visiting global family on opportunities for investment in Ghana and this account will give them the opportunity to do that. "

The "Year of Return, Ghana 2019" is a major landmark spiritual 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 made the pilgrimage to Ghana when the programme ended at the end of December 2019.

Those present included Hon Charles Adu Boahen, Deputy Minister for Finance, H E Ambassador Erieka Bennet, Head of Mission, Diasporan African Forum, Mr. Akwasi Agyeman the Chief Executive Officer of the Ghana Tourism Authority, Mr Akwasi Ababio, Director of Diaspora Affairs at the Office of the President and some Diasporans living in Ghana.

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