Bold leap: SOEs set for Stock Exchange debut
The government is preparing to list multiple State-Owned Enterprises (SOEs) on the domestic stock exchange, aiming to revive the country's capital markets and promote long-term investment-led growth.
This initiative forms part of a comprehensive capital market development strategy being implemented jointly by the Bank of Ghana, Ministry of Finance, State Interests and Governance Authority, and the Ghana Stock Exchange.
The move is expected to unlock value, enhance transparency, and improve corporate governance within the public sector.
Governor of the Bank of Ghana, Dr. Johnson Asiama said "these efforts are aligned through a joint capital market development strategy, modelled on coordinated approaches seen in more advanced economies. Our aim is to shift from short-term consumption financing to long-term, investment-led growth underpinned by domestic capital." This strategic initiative promises to transform Ghana's economy and capital markets.
CEOs summit
He disclosed this at the 9Th CEOs Summit and Expo in Accra today on the theme: “Leading Ghana’s Economic Reset: Transforming Business and Governance for a Sustainable Futuristic Economy - A Private-Public Sector CEO Dialogue and High Impact-Learning”.
The summit brought together over 100 top Chief Executive Officers (CEOs), entrepreneurs and policy makers to define strategies that will reset, renew, and reposition the country’s economy for the years ahead.
The move, according to Dr Asiama goes beyond financial sector reform, adding that the domestic bond market would be reopened with the introduction of benchmark securities designed to support infrastructure financing and provide long-term investment instruments.
Enterprise leadership
He urged Chief Executive Officers (CEOs) to take charge of the country's enterprise reset while the central bank handled macro-economic stability, stressing that leadership in the current challenging economic environment was not about avoiding risk but managing it with purpose and integrity.
He said while monetary authorities focused on macro-economic stability, business leaders must drive transformation at the enterprise level.
The Governor further proposed what he termed a "simple four-point CEO Manifesto" for the current moment, calling on private sector leaders to drive productivity through innovation rather than just cost cutting, develop future-ready talent through skills investment and inclusive workplace cultures, expand Ghana's productive footprint through value-added exports and regional trade, and model resilience and governance through strong boards and ethical leadership.
“Your leadership is now central to building a more resilient Ghana. Indeed, the private sector is not a bystander - You are the builders of jobs, the drivers of innovation, the stewards of risk, and the enablers of long-term productivity.
This is what a national reset requires. If we rebuild macro stability but maintain outdated business models, we will have missed the moment. In other words, the Bank of Ghana can stabilise the playing field – but it is you, the private sector, which will shape the game,” he stated.
The CEO of Margins Group, Moses Kwesi Baiden Jnr, highlighted the critical role of digital identity in establishing trust quickly in a digital environment.
“A reliable and secure identity system is essential for effective government planning and business market efficiency,” he stated, adding that digital identity was no longer a technical concept but a strategic national necessity.
Awards
The summit recognised individuals who had demonstrated exceptional leadership and innovation skills in their respective industries, and made significant contributions to the overall economic growth of the country. Among them were CEOs from the media, SOE, telecommunications, manufacturing and technology industries.
The Managing Director of GSE, Abena Amoah, was honoured as CEO of the Year-Money Market; the Managing Director of Enterprise Insurance, Akosua Ansah-Antwi, received CEO of the Year-General Insurance; the Executive Chairman of the McDan Group of Companies, Daniel McKorley, was honoured with the CEO of the Year-Salt Industry, while the CEO of Minerals Income Investment Fund (MIIF), Justina Nelson, received CEO of the Year-Minerals Investment Fund award.