Taptap Send Africa has called for increased focus on remittance inflows as a key driver of Ghana’s economic growth, emphasizing their significant contribution compared to Foreign Direct Investment (FDI).
The leading money transfer company revealed that remittances contribute approximately $5 billion to Ghana’s economy, far surpassing the $56.02 million FDI recorded by the Ghana Investment Promotion Centre (GIPC) for the second quarter of 2024.
Speaking during a media engagement in Accra, Darryl Koku Mawutor Abraham, Head of Taptap Send Africa, urged collaboration between industry players and regulators to create a more supportive environment for the growth and innovation of the remittance sector.
‘Remittances contribute far more to Ghana’s economy than FDI,’ he stated. ‘FDI figures have dropped significantly over time, from around $1.5 billion to the current range of $300–$360 million.’
He added that: “With FDI you have to convince countries to come and invest. With remittance, all you have to do is get our people who live outside the country to spend more money here. We can create a welcoming environment for companies like ourselves. If you want to get more remittance companies in the country, there’s one thing you can do. You can allow for companies like us to have a better regulatory environment for us to bring more money.”
The company has officially resumed its services to Ghana following a brief suspension with an exciting promotion dubbed the” Sanbra Promo” to thank customers for their patience and loyalty.
Key highlights include: A chance to win a free flight when you send £/$/€1,000 through Taptap Send, bonus credits for your next transfer and recipients in Ghana can win prizes from a giveaway pot of GHS 100,000.
