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BoG allays fears

BoG allays fears

The Bank of Ghana (BoG) has re-emphasized that non-resident Ghanaians can still invest in government of Ghana Treasury Bills.

In a press release, BoG said its attention has been drawn to certain misconceptions that non-resident Ghanaians/Ghanaian investors cannot invest in Government of Ghana Treasury Bills.

“The Bank wishes to correct this erroneous impression and hereby states that Ghanaian Investors resident offshore can continue to invest in Government Treasury Bills,” the release stated.

It explain that, 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, then they are restricted to the purchase of Government Securities with tenor of three years and above.

“For emphasis, 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 and above, such as the three-year or five-year bond,” it explained.

The proceeds of investments including 91-day, 182-day Treasury Bills and the 1-year and 2-year Government Treasury Notes, invested on behalf of non-resident Ghanaians, are credited to their Ghanaian accounts, this, the report said, has not changed.
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