Public listing is a partnership, not just fundraising – NPRA CEO tells Ghanaian businesses
The Chief Executive Officer (CEO) of the National Pensions Regulatory Authority (NPRA), Chris Boadi-Mensah, has issued a clarion call to Ghanaian businesses, urging them to view public listing on the stock exchange as a long-term partnership with investors rather than a mere fundraising exercise.
Speaking at the listing ceremony of Kasapreko PLC on the Ghana Stock Exchange on Monday, Mr. Boadi-Mensah stressed the imperative for local enterprises to adopt investor-friendly ownership and governance structures capable of attracting institutional capital.
He noted that pension funds and other institutional investors are generally drawn to companies that demonstrate transparency, accountability, and a genuine willingness to share ownership meaningfully with the public.
According to the NPRA boss, the success of public listings across the globe has often hinged on the readiness of founders and existing shareholders to create broad ownership opportunities.
He warned that companies with narrow ownership structures and limited free float arrangements frequently struggle to generate sufficient market liquidity and investor participation. "A sufficiently broad free float not only enhances liquidity and price discovery but also provides institutional investors with the confidence that they can participate meaningfully in the growth journey of the company," he stated.
Mr. Boadi-Mensah observed that Ghana's burgeoning pension sector presents a significant opportunity for local businesses seeking sustainable financing for expansion and innovation.
He disclosed that Ghana's pension assets under management had grown considerably to GH¢120 billion by the end of the first quarter of 2026, creating a substantial pool of domestic capital available for productive investments. The NPRA, he said, remains committed to promoting investment diversification within the pension industry while encouraging greater participation in Ghana's capital market.
He further encouraged more local companies to consider listing on the Ghana Stock Exchange, noting that the current business environment presents favourable opportunities for firms willing to embrace public ownership and accountability. The NPRA CEO praised Kasapreko PLC for demonstrating leadership by opening itself to public investment and accountability through its listing, and commended the Ghana Stock Exchange for implementing new listing rules aimed at improving market integrity and attracting more issuers.
Concluding, Mr. Boadi-Mensah stated that stronger collaboration between regulators, institutional investors, and listed companies would be essential in building a deeper and more vibrant capital market capable of supporting Ghana's long-term economic transformation.