The Managing Director of the Ghana Stock Exchange (GSE), Ms. Abena Amoah, has called on Cabinet to approve the listing of viable State-Owned Enterprises (SOEs) on the Ghana Fixed Income Market (GFIM) and the Ghana Stock Exchange to raise capital for their operations.
Speaking in Accra during the Ghana Fixed Income Market 10th Anniversary and Awards Night, Ms. Amoah noted that pension reforms had resulted in pension fund assets growing to over GH¢100 billion, which were in need of investible opportunities. The event was held under the theme “Deepening Markets and Expanding Possibilities.”
Ms. Amoah emphasized that the GSE was ready to support viable SOEs in listing on the Accra bourse, highlighting that such listings would enhance transparency, efficiency, and access to long-term funding. She also urged the government to review capital gains tax on listed securities, similar to the exemption for betting tax, to attract more investors and deepen market liquidity.
She further recommended promoting bond-backed Public-Private Partnerships (PPPs) for infrastructure financing, issuance of municipal bonds, and incentives for multinationals to localize ownership through the GSE.
Highlighting market growth, Ms. Amoah stated that traded volumes increased from GH¢5.2 billion in 2015 to GH¢230 billion in 2022, representing a 4,300% growth over seven years. Despite a drop to GH¢98 billion in 2023 due to the Domestic Debt Exchange Programme, trading rebounded to GH¢174 billion in 2024 and reached GH¢214 billion by October 2025.
She called on all stakeholders to collaborate in building a world-class capital market that drives inclusive growth, creates jobs, and finances Ghana’s sustainable development.
The Advisor to the President on the Economy, Mr. Seth Terkper, commended the GSE and stakeholders for the success of the GFIM, which was established to provide a structured, centralized, and transparent debt capital platform. An address delivered on behalf of the Minister of Finance, Dr. Cassiel Ato Forson, reaffirmed government’s commitment to deepening Ghana’s capital markets through innovation and diversification.
The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiama, lauded GFIM’s progress, describing Ghana’s bond market as one of Africa’s most credible domestic platforms, with turnover exceeding GH¢214 billion in 2025. He stressed that the market is poised to anchor regional integration under the African Continental Free Trade Area’s financial framework and urged focus on depth, diversity, and digitalization in the next decade.
BY KINGSLEY ASARE
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