Companies seeking to raise capital through the public markets have been advised to view stock exchange listing as a long-term partnership with investors rather than a one-off fundraising exercise.
The Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), Mr Chris Boadi-Mensah, gave the advice at the listing ceremony of Kasapreko PLC on the Ghana Stock Exchange in Accra on Monday, June 15, 2026.
He stressed the need for Ghanaian businesses to adopt investor-friendly ownership and governance structures capable of attracting institutional capital.
Addressing stakeholders, Mr Boadi-Mensah explained that pension funds and other institutional investors were generally drawn to companies that demonstrated transparency, accountability and a genuine willingness to share ownership with the public.
He indicated that the success of public listings globally often depended on the readiness of founders and existing shareholders to open up ownership and create broader opportunities for investors.
Mr Boadi-Mensah noted that companies with narrow ownership structures and limited free float arrangements frequently struggled to generate adequate market liquidity and investor participation.
He explained that broader free float arrangements enhanced liquidity and improved price discovery on the stock exchange, thereby making listed companies more appealing to institutional investors.
He stated that a sufficiently broad free float not only improved liquidity and price discovery but also gave institutional investors the confidence to participate meaningfully in the growth of companies.
Mr Boadi-Mensah added that businesses which embraced broad-based ownership and strong governance principles were more likely to attract long-term capital and build lasting relationships with investors.
Touching on opportunities within the domestic market, he observed that Ghana’s growing pension sector offered significant prospects for businesses seeking sustainable financing for expansion and innovation.
He disclosed that pension assets under management had risen to GH¢120 billion by the end of the first quarter of 2026, providing a substantial pool of domestic capital for productive investment.
Mr Boadi-Mensah said the NPRA remained committed to promoting investment diversification within the pension industry while encouraging greater participation in the capital market.
He further encouraged more local companies to consider listing on the Ghana Stock Exchange, noting that the current business environment presented favourable opportunities for firms willing to embrace public ownership and accountability.
He commended Kasapreko PLC for demonstrating leadership by opening up to public investment and accountability through its listing on the Exchange.
Mr Boadi-Mensah also praised the Ghana Stock Exchange for introducing new listing rules aimed at strengthening market integrity and attracting more issuers.
He concluded that stronger collaboration among regulators, institutional investors and listed companies would be critical to building a deeper and more vibrant capital market to support Ghana’s long-term economic transformation.
BY KINGSLEY ASARE
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