By Grace Zigah
The Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), Chris Boadi-Mensah, has called on listed companies to embrace the highest standards of corporate governance, transparency and accountability, stressing that investor confidence and access to long-term capital depend largely on how well firms are managed after entering the public market.
Speaking at the official listing ceremony of Kasapreko PLC on the Ghana Stock Exchange (GSE), Boadi-Mensah underscored the growing importance of good corporate governance in attracting institutional investors, particularly pension funds that manage the retirement savings of millions of Ghanaian workers.
His remarks come at a time when the capital market is seeking to deepen investor participation and encourage more indigenous companies to raise capital through public listings rather than relying solely on traditional financing sources.
The listing of Kasapreko PLC, one of Ghana’s most recognizable indigenous manufacturing companies, is being viewed as a significant milestone for the country’s capital market and a major boost for efforts aimed at broadening local participation in wealth creation through stock ownership.
Addressing investors, regulators, business leaders and stakeholders gathered for the ceremony, Boadi-Mensah emphasized that becoming a publicly listed company comes with obligations that extend beyond raising capital.
According to him, companies that choose to list on the stock exchange effectively enter into a social and financial contract with investors, committing themselves to greater openness, accountability and responsible management.
“By listing on the Ghana Stock Exchange, you have chosen accountability,” he stated.
He explained that public ownership requires companies to maintain a culture of transparency, timely reporting and adherence to sound governance principles in order to sustain investor trust.
The NPRA Chief Executive noted that institutional investors, including pension fund managers, increasingly evaluate governance standards before committing retirement funds and other long-term investments to listed entities.
According to him, firms that consistently demonstrate strong governance practices, transparent financial reporting and effective management structures are more likely to attract sustainable investment flows.
He stressed that transparency is no longer merely a regulatory requirement but a critical factor influencing investment decisions within modern financial markets.
Boadi-Mensah further observed that successful public listings require company founders and existing shareholders to embrace the concept of broad-based ownership.
He noted that opening ownership to the investing public allows more citizens to participate in the growth and success of businesses while contributing to the overall development of the capital market.
In addition, he highlighted the importance of ensuring adequate liquidity in the market so that investors can buy and sell shares efficiently.
According to him, maintaining sufficient liquidity enhances investor confidence and improves the attractiveness of listed companies to both local and foreign investors.
The NPRA boss also cautioned against the temptation to focus excessively on short-term financial performance at the expense of long-term value creation.
He urged management teams to prioritize sustainable growth strategies that generate lasting benefits for shareholders, employees, customers and other stakeholders.
“Long-term value creation should remain the focus,” he stressed, noting that companies that prioritize sustainability and responsible growth are often better positioned to withstand economic challenges and maintain investor confidence.
His comments carry particular significance because pension funds have emerged as one of the most important sources of long-term capital within the financial sector.
