Ghana will roll out a $3 billion bond for black people in the diaspora, particularly its citizens before the end of 2020, the country’s finance minister has said.
Ken Ofori-Atta told reporters his country was looking to offer rates better than what bond buyers earn in other markets such as the United States.
Details for the proposal is still being discussed with the country’s central bank. But the drive is intended to raise money for infrastructure, tourism and agricultural development in Ghana.
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Ghana is the world’s largest producer of gold and the second-biggest grower of cocoa. Ahead of elections in 2020, the government is looking to finance some projects and boost the economy.
After a highly successful 2019 PR campaign dubbed “Year of Return“, Ghana’s president, Nana Akufo-Addo, is hoping to make his country the destination for capital investments from the African diaspora.
He has thus called on Africans in the diaspora to help make the continent an investment haven.
President Akufo-Addo said: “The time has come to engage Africans in the diaspora and all persons of African descent more positively in areas such as trade and investment co-operation, and skills and knowledge development.”