Selected state-owned banks may be listed on Ghana Stock Exchange - Ato Forson

The government is considering listing selected State-Owned Enterprises (SOEs), including state-owned banks, on the Ghana Stock Exchange (GSE) as part of efforts to improve corporate governance, efficiency and profitability.

Finance Minister Dr Cassiel Ato Forson said the move forms part of broader reforms aimed at strengthening the performance of public institutions without resorting to outright privatisation or shutting down underperforming entities.

Speaking on the Citi Breakfast Show on Friday, July 24, 2026, a day after presenting the 2026 Mid-Year Budget Review to Parliament, Dr Forson said government was reviewing the operations of several SOEs to identify measures that would make them more competitive and financially sustainable.

He explained that listing selected institutions on the capital market would allow greater private sector participation while ensuring that the state retains ownership.

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“We are assessing a number of SOEs. It’s not about selling, it’s not about shutting down; it’s about listing some of them on the Stock Exchange to improve governance and ensure profitability,” he said.

The Finance Minister noted that state-owned banks are among the institutions being considered for the initiative, adding that government intends to deepen private sector involvement in some of these financial institutions.

He cited the Agricultural Development Bank (ADB), which is already listed on the Ghana Stock Exchange, as an example of how the approach could be expanded.

“ADB is already there, but we want to deepen it and offload more of those shares to the private sector, to you, to everybody. Everyone can buy some shares. NIB, all of them, we want to,” he said.

Dr Forson said increasing private sector participation through the stock market would help improve transparency, accountability and corporate governance among state-owned enterprises.

According to him, the reforms are intended to make SOEs more efficient and commercially viable while ensuring they continue to serve their strategic roles in the economy.

The proposal forms part of government’s wider efforts to address persistent challenges facing some SOEs, including financial losses, weak governance structures and reliance on public resources.

MA