The Bank of Ghana (BoG) is pushing for more banks to list on the Ghana Stock Exchange (GSE) as part of efforts to deepen Ghana’s capital markets and strengthen corporate governance in the financial sector.

Addressing heads of banks at the 128th post-Monetary Policy Committee meeting, the Governor, Dr. Johnson Asiama encouraged banks to consider public listing, stressing that the move goes beyond raising fresh capital.

“Listing is not only about capital raising; it broadens ownership, strengthens governance, and deepens transparency, anchoring banks more firmly in domestic long-term savings,” he noted.

According to the Governor, publicly listed banks are subject to stricter disclosure and reporting standards, which enhance accountability and boost investor confidence. He explained that widening ownership through the capital market allows more Ghanaians and institutional investors to participate in the banking sector, thereby strengthening public trust and long-term resilience.

Collaborative Approach

The BoG is working with key financial sector stakeholders, including the Securities and Exchange Commission (SEC), the Ministry of Finance, the National Insurance Commission (NIC), the Central Securities Depository (CSD) and the Ghana Association of Banks (GAB) to create an enabling environment for listings.

The engagement is expected to address regulatory, structural and market challenges that may discourage banks from going public, while streamlining processes to make listing more attractive and efficient.

Building a More Resilient Financial System

The central bank believes that increasing the number of listed banks will help deepen liquidity on the stock market, expand investment opportunities for pension funds and insurance firms, and mobilise domestic long-term savings to support economic growth.

Dr. Asiama stressed that broader ownership enhances resilience within the banking sector and strengthens governance structures, which are critical to sustaining financial stability.