GSE pushes private sector to harness GH¢120 billion pension capital

The Ghana Stock Exchange (GSE) has encouraged Ghanaian businesses to raise more money from the capital market to finance their expansion, pointing to more than GH¢120 billion in pension fund assets as a major source of investment.

Managing Director of GSE, Abena Amoah, said businesses should look beyond traditional bank loans and explore options such as corporate bonds and shares.

Speaking at a Petrosol Platinum Energy programme, on August 24, 2026, she indicated that 15 companies had raised about GH¢24 billion through Ghana’s corporate bond market since it was established in 2015.

According to her, the growing market shows that companies can raise significant funds locally, but more businesses need to take advantage of the opportunity.

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“The market is open, the capital is here. Our pension funds alone manage over GHC120 billion of assets, and the opportunity for them is significant,” she noted.

She mentioned that trading in Ghana’s fixed-income market has recovered strongly after the Domestic Debt Exchange Programme.

Trading fell from GH¢230 billion in 2022 to GH¢98 billion in 2023, but rose to GH¢174 billion in 2024 and about GH¢245 billion in 2025.

By the end of July 2026, trading had already reached GH¢255 billion, exceeding the total recorded for all of 2025.

She said the market is also generating returns for investors.

She disclosed that investors received about GH¢37 billion in dividends from companies listed on the GSE over the past 12 months.

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Investors in corporate bonds and commercial paper also received almost GH¢800 million in interest payments during the same period.

She said these payments show how the capital market helps businesses raise money while giving investors opportunities to earn returns.

The GSE has urged businesses to raise money for growth by selling shares or issuing bonds and other financial products.

DR/SA

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