International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Remittances from Abroad: The Ghanaian Household Perspective
Gabriel Ahinful Sam, Felix Obeng Boateng, Paul Kofi Oppong –Boakye

With increasing number of Africans migrating to Europe and the Americas to seek greener pastures, the expectation is that the level of remittances from them to their families back home will increase. Amid the global financial crisis since 2008, remittance to developing countries has increased by 8% from the year 2010 to US$346bn in 2011 (World Bank Report, 2010). The study looks at the contributions of foreign remittances to households in Ghana. Data were obtained from the recipients of foreign remittances chosen suburbs in Kumasi metropolis through self administered questionnaire. The study reveals that the main channels of foreign remittances to Ghana are banks, private companies and individuals. Also, foreign remittances are mainly spent on food, education, church activities and funerals.

Full Text: PDF