NON-RESIDENT GHANAIANS CAN STILL INVEST IN TREASURY BILLS - BoG


By Edmund Smith-Asante
The Bank of Ghana (BoG), has stated that Ghanaian investors resident offshore can continue to invest in Government Treasury Bills, contrary to an impression created in certain quarters that they cannot. 
In its reaction to what it termed certain misconceptions, the BoG explained that it is only
where a non-resident investor, having sent funds from offshore, requires that the proceeds of the investment (that is, interest and maturity value) be REPATRIATED offshore, that they are restricted to the purchase of Government Securities with tenor of three (3) years and above.
In the press release that carried the Bank’s reaction, BoG expatiated that “where a non-resident investor requires that his/her investment proceeds be repatriated, then the investment can only be in instruments with tenors of three years (3) and above, such as the 3-year or 5-year bond.” 
Ghana’s Central Bank divulged that a lot of Ghanaians who are non-resident in Ghana send money home to be invested on their behalf in 91-day, 182-day Treasury Bills and the 1-year and 2-year Government Treasury Notes, adding that those investors have accounts in Ghana which are used for such investments. 
“On maturity, the proceeds are credited to these accounts, which is a form of savings for them back home in Ghana.  This has not changed,” the press release stressed.

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