Ghana’s Financial Stability Advisory Council (FSAC) has formally activated the Steering Committee and Technical Committee established to develop a regulatory framework for the gradual listing of commercial banks on the Ghana Stock Exchange (GSE), marking a concrete operational step in a project that has been in preparation since early 2026.
The FSAC announced the development at its first meeting of 2026, held on March 11, which was also its 26th session since the Council was established. The Council confirmed that both committees have commenced work on detailed guidelines and structures to govern the listing process.
The committees draw representation from the Bank of Ghana (BoG), the Securities and Exchange Commission (SEC), the National Insurance Commission (NIC), the National Pensions Regulatory Authority (NPRA), the GSE, the Ghana Association of Banks (GAB), and independent capital market specialists.
The Council said the initiative is designed to widen financing options for banks, reinforce market discipline, and improve public trust in the financial sector. “This initiative will provide opportunities for both banks and investors, including diversity in financing sources, greater market discipline, increased transparency, and ultimately improve public trust,” the Council stated.
The FSAC added that the project aligns with its broader mandate to promote a sound and resilient financial system and complements ongoing regulatory measures, including preparations for Ghana’s Third Mutual Evaluation under the Financial Action Task Force (FATF), which conducted an onsite assessment in February 2026.
Both committees are mandated to finalise the framework through stakeholder consultation, with the goal of ensuring that institutional and retail investors alike can participate in the process.
