Ghana’s housing market receives a substantial boost from Ghanaians living abroad, accounting
for approximately 60 percent of total investments, according to the director of the Ghana
Property Awards.
Speaking at the Ghana Housing Show in the UK, Mrs. Irene Agyenkwa Wegbe, the founder of
the Ghana Property Awards, highlighted the pivotal role played by these diaspora investments in
the country’s infrastructure development.
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Mrs. Agyenkwa Wegbe referenced a United Nations financial report on remittances to Africa in
2019, revealing a significant contribution of approximately $48 billion. Recent figures from the
World Bank indicate that out of the total remittances of $95.6 billion, $46.6 billion was directed
to North Africa, while sub-Saharan Africa received $49 billion.
These remittances hold great importance as they are instrumental in transforming Ghana’s
infrastructure, with a specific focus on housing.
Mrs. Agyenkwa Wegbe emphasized that platforms like the Ghana Housing Show and the
African Housing Show serve as crucial avenues to raise awareness about the housing situation,
which is a fundamental human right for all individuals residing in Ghana and Africa.
Moreover, the initiatives aim to foster stronger relationships and encourage more investors to
participate, thereby making a significant contribution to resolving the housing challenges in the
country while also generating substantial returns on their investments.