ACCRA, Ghana, 14 December 2022,-/African Media Agency (AMA)/- It’s beginning to look a lot like Christmas in Ghana, as many prepare to spend time and celebrate the Christmas and Cocoa harvest festivities with their families and friends across the country.
During this season, remittance inflows from Overseas Ghanaian Workers (OGWs) increase as those who cannot make it home to celebrate the holidays still send their love and support1. Remittance inflows to Ghana are expected to rise to $4.7 billion by the end of the year, having already increased by 4.4% more than 20212.
According to the latest 2022 year in review by World Bank, remittances in Sub-Saharan Africa grew an estimated 5.2% to $53 billion in 2022, compared with 16.4% last year. However, in 2023, remittances are projected to soften to 3.9% growth as many nations face adverse conditions in the global and regional environments3.
“This Christmas, we are expecting money transfers in Ghana to increase as OGWs prepare to send money to their loved ones back at home. Sending money for an important cultural event like Christmas is an easy, fast and safe way to participate in festivities for those who can’t make it home to be with friends and family,” said Gbenga Okejimi, Country Manager, Ghana, and Nigeria WorldRemit.
Luckily, there are still many ways for OGWs to feel included during this time of the year. For one, technology can instantly connect OGWs to loved ones during holiday events via teleconferencing and live streaming services for instance many OGWs can tune and connect with their families in Ghana as they attend Christmas Eve church services and get to enjoy children putting on nativity plays and dancing sessions. Additionally, OGWs can also stay connected and participate in online games or quiz night with their loved ones or even, make virtual Christmas parties more meaningful and fun memories4.
With growing Ghanaian communities abroad, stores selling hard-to-find local products and ingredients have become more common. This makes preparing authentic traditional foods such as Okra soup and pounded yam easier for those missing the taste of home4.
Sending personalized virtual gifts like digital cards and homemade video presentations can also go a long way in spreading cheer for those unable to celebrate together. With rising inflation, OGWs working in countries with a high-value currency, can get more value out of the remittances sent home – especially with Christmas around the corner.
According to the WorldRemit 2022 Cost of Christmas Study, many global families around the world should expect to spend up to 156% of their monthly income on Christmas this year, because of increasing inflation. As a leading cross-border digital payments channel, WorldRemit’s robust pay-out network in Ghana allows recipients remit from partner centres, mobile money networks and banks ensuring money is delivered easily and enabling migrants sending money to their familiesw this Christmas season is extra special. As an ever-reliable online service, WorldRemit in Ghana will operate 24/7, even during this feastive season with 90% of the money transfers to Ghana sent to local partners received within minutes.
“WorldRemit is here even for those who might have forgotten or have been unable to send home gifts until the last minute. We are aware of the difficulties many are facing at home and abroad, so we’re here to make things easier by being there whenever you need us,” Okejimi added.
Distributed by African Media Agency (AMA) on behalf of WorldRemit.
Notes to Editors
2. Joy Online. Ghana records $4.7bn in remittances in 2022, maintains 2nd position in Africa. December 2022
3. World Bank. Remittances Grow 5% in 2022, Despite Global Headwinds. November 2022
4. Why Christmas. Christmas In Ghana. 2022
We’re a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global payments brands.
We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower-cost. We currently send from 50 countries to recipients in 130 countries, operate in more than 5,000 money transfer corridors worldwide and employ over 1,200 people globally.
On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.
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