As remittance inflows are expected to peak in the weeks ahead, analysts say sustained reforms and stronger capture mechanisms could help cushion the economy beyond the festive season, while supporting exchange-rate stability and trade financing.
Official data already points to solid inflows, with inward private transfers reaching 5.98 billion dollars as at September 2025, reinforcing the growing role of remittances as a key source of foreign exchange.
While much of these inflows typically go into household consumption including school fees, utility bills and Christmas-related spending, banking consultant Dr. Richmond Atuahene says remittances still play a critical role in supporting economic activity.
“The more inflow of this is supposed to support the economy, but unfortunately most of them are for consumption. Most of these remittances come in to support the local economy,” he said.
Beyond consumption, Dr. Atuahene notes that remittances also strengthen Ghana’s foreign exchange reserves and improve liquidity within the banking sector, enabling banks to better finance imports and trade.
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