Omanghana
The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has urged Africans living abroad to move beyond sending money for household expenses and invest in sustainable businesses capable of creating jobs and transforming the continent’s economy.
Delivering a keynote address at the Africa Rising Symposium in London, Gyamfi acknowledged the important role remittances play in supporting families and communities across Africa. He argued, however, that financial transfers alone cannot address the continent’s deeper structural and economic challenges.
According to him, Africa needs long-term investment in productive enterprises, strong institutions and systems that can generate employment while retaining more of the value created from the continent’s natural and human resources.
“Do not only send money home; send systems home. Do not only build houses; build enterprises,” he told participants.
Gyamfi explained that the African diaspora’s contribution should not be measured solely by the amount of money sent to relatives. He said Africans abroad also possess valuable professional expertise, technical knowledge, business networks and experience with well-functioning institutional systems.
These resources, he noted, could help local companies improve their operations, adopt higher standards and gain access to international markets.
The GoldBod CEO encouraged members of the diaspora to pool their resources and invest through properly structured commercial platforms instead of limiting their activities to small, isolated projects.
He identified manufacturing, agro-processing and packaging as important areas for investment. Such enterprises, he said, would enable African countries to process their raw materials locally rather than exporting them without adding significant value.
Gyamfi also highlighted opportunities in information technology, logistics, supply-chain development, renewable energy and transportation. He said investment in these sectors could improve productivity and address infrastructure gaps that continue to restrict economic growth.
Healthcare and education were also identified as critical areas requiring diaspora participation. He called for investments in modern medical facilities, advanced educational institutions and structured mentorship program for emerging entrepreneurs.
According to Gyamfi, experienced professionals in the diaspora can support young African business owners through training, technical assistance, market connections and access to capital.
He also placed responsibility on African governments to create environments in which diaspora investments can succeed. He said policy stability, transparent legal institutions and respect for contracts were essential to attracting and protecting long-term capital.
Gyamfi pointed to economic reforms being pursued under President John Dramani Mahama as part of efforts to create a more stable investment climate and strengthen confidence in Ghana’s economy.
He maintained that diaspora investors must be assured that their property rights will be protected and that government policies will not change unpredictably after investments have been made.
During the address, Gyamfi disclosed that GoldBod was developing a gold-backed digital tokenization system intended to give members of the global diaspora secure and transparent access to investment opportunities in Ghana’s precious-minerals sector.
The proposed platform is expected to use gold-backed digital instruments to widen participation in the industry. Further details about its regulatory structure, implementation timeline and investor safeguards are yet to be announced.
Gyamfi concluded by calling for a new relationship between Africa and its diaspora—one based not only on family support but also on enterprise development, knowledge transfer and sustainable economic ownership.
Source: Omanghana
