BoG pushes for more banks on Stock Exchange
The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has announced an initiative aimed at revitalising Ghana’s capital market by encouraging more commercial banks to list on the Ghana Stock Exchange (GSE).
According to Dr Asiama, the effort forms part of a broader strategy by the Central Bank to deepen the financial sector, improve access to long-term capital, and allow ordinary Ghanaians to participate directly in the nation’s economic growth through equity ownership.
Speaking at the ongoing World Bank/IMF Annual Meetings in the United States, the Governor lamented that despite Ghana’s relatively well-developed banking system, only a handful of institutions are publicly listed.
“For a country with 23 universal banks, it is worrying that only about six are listed on the Ghana Stock Exchange. We have therefore begun discussions with bank CEOs to make public listing a more attractive and accessible option,” he said.
Dr Asiama disclosed that the Bank of Ghana has established a special committee to work with key stakeholders to develop a structured programme for expanding bank listings on the GSE.
“One other interest that we are promoting is to help put life back into the capital markets. It suffered a great deal. We are beginning to see some activity, especially in the corporate bond market. Last week, I had a meeting with the CEOs of all the banks, and we have agreed on a programme and set up a small committee to get more and more of the banks listed on the Ghana Stock Exchange,” the Governor stated.
He emphasised that this initiative would bring a “win-win” outcome for both the banking sector and the economy.
“By listing more banks, we would have greater access to long-term or ‘patient’ capital, and at the same time, we’ll be putting some life back into equities trading on the Ghana Stock Exchange,” Dr Asiama explained.
