GSE Intensifies Drive to list SOEs as Rarket Rallies
The Ghana Stock Exchange (GSE) is stepping up efforts to bring State-Owned Enterprises (SOEs) onto the capital market, a move aimed at unlocking value from public assets, improving corporate governance standards and broadening investment opportunities for Ghanaians.
Managing Director of the GSE, Abena Amoah, said the Exchange is actively pursuing the listing of selected state-owned entities as part of a wider strategy to deepen the country’s capital market and increase participation from both institutional and retail investors.
Speaking at the listing ceremony of Kasapreko PLC on the Main Market of the Exchange, Ms Amoah indicated that the initiative continues to receive strong backing from government.
“We are also actively advancing the listing of State-Owned Enterprises (SOEs), a programme strongly supported by President John Dramani Mahama, who reaffirmed his support during a recent visit to the London Stock Exchange. This initiative will unlock value, strengthen governance, and deepen our market further,” she stated.
The renewed push comes at a time when Ghana’s equities market is experiencing a significant resurgence, supported by rising investor confidence, increased trading activity and renewed interest in public listings.
According to the GSE, discussions are also progressing with regulators to establish frameworks that would encourage more commercial banks to list on the Exchange. The initiative is being pursued in collaboration with the Bank of Ghana (BoG) and the Securities and Exchange Commission (SEC) as part of efforts to attract new issuers and expand market depth.
Several state-owned enterprises are widely considered viable candidates for public listing due to their operational scale and commercial potential. Among them are the Electricity Company of Ghana (ECG), BOST Energies, GNPC Explorco, Ghana Airports Company Limited, Tema Oil Refinery (TOR), GoldBod Jewelry, Ghana Re, GNPA Limited, TDC Ghana Limited and Architectural and Engineering Services Limited (AESL).
Highlighting recent market developments, Ms Amoah said the Exchange has recorded exceptional growth across key indicators in 2026.
She noted that the GSE Composite Index had gained 64.67 per cent as of June 12, 2026, extending a period of sustained growth that has seen the market post strong returns over the past three years.
“Even more striking, the number of trades executed on the equities market from January to May 2026 exceeded 457,000, compared to approximately 63,000 during the same period last year an increase of over 625 per cent. These figures reflect growing investor confidence, improving liquidity, and broadening participation across all segments,” the MD of the GSE stated.
