Most of the applicants were health professionals, who were offered better career prospects with better conditions in the countries that do not accept dual citizenship.

Germany led the way by granting 538 Ghanaians citizenship followed by Netherlands (233), Norway (32), Denmark (7), Austria (5) and Hong Kong as well as China with one each.

Interior minister Kwasi Ahwoi told journalists  that the main motive for the renunciation was “economic reasons.”

“The rate at which Ghanaians are naturalising as Germans is alarming,” A top official in the ministry responsible for the migration unit said.

“Almost every week, people come over to naturalise as Germans unlike in previous times, when they go seeking for greener pastures,” he said.

In contrast 39 foreigners Ghanaians citizenship and 29 applications were approved while the remaining 10 are outstanding. Of these, 17 were Lebanese, five Indians and one each from Nigeria, Korea, Egypt, America, Britain and Liberia.

Bank of Ghana’s Monetary Policy Committee raised the policy rate by 100 basis points while the government statistician also announced that year-on-year inflation climbed to 15.0% in June from 14.8%, in May.

The development has pushed up prices of local staples like plantain, yam, cassava, and other local staples, while house rents are also escalating with the regulatory body powerless to control it.