The Bank of Ghana (BoG) has called on financial institutions to actively redirect the country’s growing pool of domestic savings into productive sectors, warning that macroeconomic stability alone will not drive the growth Ghana needs.
Second Deputy Governor Matilda Asante-Asiedu made the call on Tuesday at the Money Summit 2026 in Accra, organised by Business and Financial Times (B&FT) under the theme “Building Trust, Capital, and Stability for Ghana’s Economic Future.”
She said Ghana’s pension funds, remittances and capital markets together hold resources exceeding GH¢100 billion, a pool that remains largely trapped in low-risk instruments rather than flowing into agriculture, manufacturing and small businesses.
“We have over 100 billion in pension funds, in our capital markets and in remittances,” she said, urging the sector to develop investment products that put those savings to work.
The remarks land as Ghana exits a three-year International Monetary Fund (IMF) Extended Credit Facility and transitions into a Policy Coordination Instrument, a milestone widely regarded as the country’s return to sovereign fiscal management. Inflation has fallen to 3.4 percent as of April 2026 from 23.8 percent at end-2024, while the policy rate has been cut by 14 percentage points since mid-2025.
Asante-Asiedu argued that stabilisation has reduced risk premiums and lowered borrowing costs, but the harder task now is channelling that improved environment into tangible investment. She said the central bank is coordinating across the financial sector to mobilise long-term savings and is advancing credit guarantee schemes, alternative credit scoring systems and bank recapitalisation as tools to expand access to finance.
The call echoes a March 2026 BoG analysis which found that 72.9 percent of pension assets were parked in government securities as of 2024, even as Treasury bill yields collapsed. Analysts have estimated that redirecting just 15 percent of the pension pool toward infrastructure and private capital could unlock GH¢15 billion for growth sectors.
