The Jewel In The Crown Of Ghana’s Year Of Return Is A Proposed USD 3 Bn Diaspora Bond
The tourism sector of Ghana is pretty much awash with the glory of a successful marketing and branding campaign for the Year of Return.
The initiative, which marks a major timeline in the sordid history of black slavery, has been further supported with USD 3 Bn in bond.
The bond, established by the present presidential administration of Akufo-Addo, is for black people in the diaspora, especially Ghanaian citizens. The bond would be rolled out before the end of 2020, according to the West African country’s finance minister, Ken Ofori-Atta.
The reason for the USD 3 Bn comes as part of the nation’s efforts to offer rates better than what bond buyers earn in other markets like the United States.
While the details of the proposal are still being decided, the intention is to further raise money for infrastructure, tourism and agricultural development in the country.
The Year of Return, so far, has shown impressive feats of national showcasing. From tons of positive international press to great mentions and celebrity endorsements, it is vivid that the campaign has gathered steam. Interestingly, the success has come at no cost to the government of Ghana.
The world’s largest producer of gold and second-biggest cocoa grower, Ghana is on the lookout for financing for some of its project, amidst which it will boost its economy.
December 2019, the World Bank is supported Ghana with USD 14 Mn to develop tourist sites across the country.
Going forward, the president hopes to make the country the destination for capital investments from the African diaspora.
At the end of the Year of Return initiative, the government estimated that the gains from the tourism sector was about USD 1.9 Mn. Be as that may, come critics have doubts as to the revenue.
But considering the fact that A List celebrities such as Cardi B made their way to Ghana for the 2019 yuletide, the earnings could not be far from the truth.
Fetaures Image: graphics.com.gh