Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), Chris Boadi-Mensah, has emphasised that strong corporate governance and meaningful public ownership remain critical requirements for companies seeking to attract pension fund investments through the stock market.
Speaking on Monday, June 15, 2026, at the listing ceremony of Kasapreko PLC on the Ghana Stock Exchange, Mr. Boadi-Mensah said institutional investors are becoming increasingly selective and are prioritising companies with transparent governance systems and sufficient market liquidity.
According to him, pension funds hold the retirement savings of Ghanaian workers and must therefore invest prudently in businesses capable of demonstrating accountability, long-term stability and sustainable growth.
The NPRA CEO explained that public listing should not simply be viewed as an avenue for raising funds but rather as a partnership built on trust between companies and investors.
He noted that companies with concentrated ownership structures often struggle to attract strong institutional participation because investors require confidence that they can meaningfully participate in the company’s growth journey.
“International experience shows that successful public listings often require founders and existing shareholders to be prepared to share ownership more meaningfully with the investing public,” Mr. Boadi-Mensah stated.
He explained that a sufficiently broad free float creates liquidity in the market, supports efficient price discovery and enhances investor confidence.
According to him, institutional investors such as pension funds are more likely to invest in companies where shares are actively traded and governance standards are clearly defined and consistently upheld.
Mr. Boadi-Mensah said Ghana’s growing pension industry represents a significant opportunity for businesses capable of meeting these expectations.
He revealed that Ghana’s pension assets under management had reached GH¢120 billion as of the end of the first quarter of 2026, making pension funds one of the most important sources of long-term domestic capital in the country.
The NPRA CEO stated that the Authority is actively encouraging diversification of pension investments beyond government securities into productive private sector enterprises capable of driving economic growth and job creation.
He described Kasapreko PLC as an example of indigenous enterprise demonstrating the kind of resilience, productivity and governance standards that institutional investors seek.
Mr. Boadi-Mensah also urged more Ghanaian businesses to take advantage of opportunities within the capital market by embracing transparency, broad-based ownership and strong governance principles.
He stressed that companies willing to open themselves to public accountability are more likely to secure long-term investor confidence and sustainable capital.
The NPRA CEO further commended the Ghana Stock Exchange for introducing reforms aimed at deepening Ghana’s capital market and improving market integrity.
He reaffirmed the Authority’s commitment to collaborating with the GSE and the Securities and Exchange Commission to strengthen investor confidence and expand participation in the capital market.
He expressed optimism that Kasapreko PLC’s successful listing would inspire more Ghanaian companies to pursue public listings and adopt governance structures capable of attracting institutional investment.
