The Bank of Ghana (BoG) has inaugurated Steering and Technical Committees to guide efforts aimed at encouraging some commercial banks to list on the Ghana Stock Exchange (GSE).

The initiative forms part of broader measures to deepen local participation in the banking sector by opening up bank ownership to the investing public through the stock market.

When banks list on the GSE, they offer shares to Ghanaians, including pension funds, insurance companies, and individual investors. While listing comes with increased obligations — such as higher transparency standards, stronger corporate governance, and continuous public scrutiny — it also provides significant long-term benefits to both the institutions and the wider economy.

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According to the BoG Governor, Dr Johnson Asiama, broader local ownership ensures that value and profits generated by banks are retained within the Ghanaian economy rather than being predominantly held abroad.

He noted that this approach is also expected to deepen public trust in the banking system, strengthen accountability, and enhance financial stability by anchoring banks more firmly in domestic capital and long-term savings.

The Steering Committee has been tasked with overseeing the development of a comprehensive framework to facilitate the listing of selected commercial banks on the Ghana Stock Exchange. If successfully implemented, the move will enable Ghanaians to take ownership, or part ownership, of critical banks operating within the economy.

The initiative also aligns with President John Dramani Mahama’s policy objective of promoting greater Ghanaian ownership of the national economy.

The Committee will operate under the oversight of the Minister of Finance, Dr Cassiel Ato Forson and will be chaired by the Governor of the Bank of Ghana, Dr Johnson Asiama

Other members of the Steering Committee include:

Dr Zakari Mumuni, First Deputy Governor, Bank of Ghana

Matilda Asante-Asiedu, Second Deputy Governor, Bank of Ghana

Mensah Thompson, Deputy Director-General, Securities and Exchange Commission (SEC)

Abena Amoah, Chief Executive Officer, Ghana Stock Exchange

Chris Boadi, Chief Executive Officer, National Pensions Regulatory Authority (NPRA)

Dr Zakariah Abiba, Chief Executive Officer, National Insurance Commission (NIC)

Louis K. Amo, Director, Financial Sector Division, Ministry of Finance and Economic Planning

The Technical Committee, working alongside the Steering Committee, is expected to develop practical implementation strategies and ensure coordination among stakeholders across the financial sector.

Together, the Committees are expected to develop a credible roadmap to facilitate bank listings, strengthen investor confidence, and build greater resilience within Ghana’s financial system.

MA

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