Finance Minister Dr Cassiel Ato Forson has disclosed that the government is considering listing selected State-Owned Enterprises (SOEs), including state-owned banks, on the Ghana Stock Exchange as part of efforts to improve their governance, efficiency and profitability.
The move forms part of broader reforms aimed at strengthening the performance of public institutions without resorting to outright privatisation or shutting down underperforming entities.
Speaking on the Citi Breakfast Show on Friday, July 24, a day after presenting the 2026 Mid-Year Budget Review to Parliament, Dr Forson said the government is assessing several SOEs to determine the most effective ways to improve their operations.
He stressed that the proposed move should not be interpreted as an attempt to sell state assets, explaining that the objective is to increase private sector participation through the capital market while preserving state ownership.
“We are assessing a number of SOEs. It’s not about selling, it’s not about shutting down; it’s about listing some of them on the Stock Exchange to improve governance and ensure profitability,” he said.
Dr Forson said state-owned banks are among the institutions being considered for the initiative.
He noted that the government plans to increase private sector participation in the Agricultural Development Bank (ADB), which is already listed on the Ghana Stock Exchange, by selling additional shares to investors.
He added that the same approach could be applied to other state-owned banks, including the National Investment Bank (NIB), as part of efforts to strengthen their financial position and improve their operations.
“ADB is already there, but we want to deepen it and offload more of those shares to the private sector—to you, to everybody. Everyone can buy some shares. NIB, all of them, we want to,” he said.
The Finance Minister said listing more state-owned enterprises on the stock exchange would improve corporate governance, enhance transparency and accountability, and help the institutions become more efficient and commercially sustainable.
