Pension Fund assets surpass GHc100 Billion - BoG Governor
12th February 2026
The Governor of the Bank of Ghana (BoG), Dr. Johnson Pandit Asiama, has highlighted significant improvements in Ghana’s macroeconomic stability, noting a return of investor confidence and rapid growth in domestic long-term capital.
Speaking during the inauguration of the Steering and Technical Committees for the Bank Listing Project in Accra on Wednesday, February 11, Dr. Asiama said pension fund assets now exceed GH¢100 billion, making them one of the largest sources of investible capital in the economy. He added that financial markets are increasingly playing a central role in the system.
“Several listed banks already have pension funds holding between 15 and 35 percent of their equity, showing that domestic institutional investors are willing and able to anchor bank ownership when the right frameworks are in place,” he noted.
Dr. Asiama emphasised that the purpose of listing banks goes beyond mere transactions. “It is about transparency, market discipline, and deliberately connecting long-term domestic savings to the banking system in a way that supports sustainable growth,” he said.
He acknowledged the diversity of Ghana’s banking sector, pointing out that while some banks are already listed, many remain wholly or predominantly foreign-owned, and others are state-linked.
“A credible listing framework must therefore be flexible and sequenced, recognising different ownership structures while maintaining high prudential and governance standards,” he said. “The work before you sits at the intersection of banking supervision, capital markets, financial stability, and monetary policy transmission. As banks become more market-facing, equity prices, valuations, and investor sentiment increasingly influence confidence and behaviour. These dynamics are critical for financial stability and effective monetary policy.”
Dr. Asiama also highlighted the deliberate composition of the committees, bringing together leadership from financial markets, financial stability, banking supervision, academia, and key stakeholders. “This diversity of perspective is essential to ensuring that market development and financial stability advance together,” he said.
He charged the committees with developing a practical and credible framework grounded in Ghana’s realities, one that will facilitate orderly bank listings, strengthen governance, mobilise long-term capital, and preserve confidence in the financial system.
“I encourage you to approach this assignment with rigour, openness, and a strong sense of public responsibility. The Secretariat will support you fully, and Management will remain closely engaged as the work progresses,” Dr. Asiama said, expressing confidence in the committees’ work and looking forward to their outcomes.