The Bank of Ghana (BoG) has inaugurated Steering and Technical Committees to lead the implementation of its Bank Listing Project, a major initiative aimed at strengthening transparency, governance, and long-term capital mobilisation within the country’s banking sector.
Speaking at the inauguration ceremony, the Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, described the project as a strategic intervention designed to respond to evolving structural changes in Ghana’s financial system.
Dr. Asiama noted that Ghana’s improving macroeconomic stability and growing investor confidence have created favourable conditions for reforms that will enhance the resilience and credibility of the banking sector.
“The Bank Listing Project is not a technical or procedural exercise. It is a strategic response to structural changes already underway in our financial system,” he stated.
According to the Governor, domestic long-term capital, particularly pension funds, has experienced significant growth in recent years, positioning them as key players in supporting bank ownership and financial market development. He revealed that pension fund assets have exceeded GH¢100 billion, making them one of the largest pools of investible capital in the country.
He added that several listed banks already have pension funds holding between 15 and 35 percent of their equity, demonstrating the capacity of domestic institutional investors to support sustainable growth within the banking sector.
Dr. Asiama explained that encouraging bank listings would promote transparency, strengthen market discipline, and deliberately connect long-term domestic savings to the banking system.
He acknowledged that Ghana’s banking sector is characterised by diverse ownership structures, including locally listed banks, foreign-owned banks, and state-linked institutions. He stressed that the new listing framework must be flexible and well-sequenced to accommodate these differences while maintaining strong governance and prudential standards.
“A credible listing framework must therefore be flexible and sequenced, recognising different ownership structures while maintaining high prudential and governance standards,” he said.
The Governor further highlighted the broader economic impact of the project, explaining that increased market participation in banking could influence financial stability and monetary policy transmission through equity valuations, investor sentiment, and market confidence.
Dr. Asiama expressed satisfaction with the composition of the committees, which brings together experts from financial markets, banking supervision, financial stability, academia, and other key stakeholder institutions.
He tasked the committees with developing a practical and credible framework that will support orderly bank listings, strengthen corporate governance, mobilise long-term capital, and sustain confidence in Ghana’s financial system.
He also assured members of the Bank of Ghana’s full support and encouraged them to approach their responsibilities with diligence, openness, and a strong sense of public service.
The Bank Listing Project forms part of broader efforts by the central bank to deepen Ghana’s financial markets and promote sustainable economic growth.
