July 2025
01Jul

Ghana. Expand informal sector pension coverage – Minister charges NPRA board

The Minister of Labour, Jobs and Employment, Dr Rashid Pelpuo, has charged the governing council of the pensions regulator to expand pensions coverage to the informal sector. He said the sector held a significant share of the working population and untapped pension contributors of the country. “Innovative policies and tailored products must be developed to harness and protect the hard-earned savings of informal workers,” Dr Pelpuo said, when he swore in a 10-member board of the National Pensions Regulatory Authority (NPRA)...

July 1, 2025
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June 2025
20Jun

Ghana’s pension crisis: low incomes, shrinking returns, and an uncertain future

As Ghana grapples with the rising cost of living, concerns over the adequacy and sustainability of pensions continue to dominate public discourse. Speaking on the Asaase Breakfast Show on Thursday (19 June), leading voices in pension regulation, fund management, and retirees’ welfare painted a sobering picture of a system straining under low contributions, limited investment options, and rising economic pressure. Hayford Atta Krufi, former Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), laid bare a fundamental truth: the nation’s pension crisis begins...

June 20, 2025
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11Jun

Energy firm CEO Appointed to Ghana’s National Planning and Pension Boards

Michael Bozumbil, Chief Executive Officer of indigenous energy firm PETROSOL, will represent Ghanaian employers on two critical national institutions following his appointment by the Ghana Employers Association. Bozumbil was sworn in as a Commissioner of the National Development Planning Commission (NDPC) by President John Mahama and simultaneously appointed to the Social Security and National Insurance Trust (SSNIT) Board of Trustees by Finance Minister Cassiel Ato Forson. The PETROSOL leader, who currently serves as First Vice President of the Ghana Employers Association,...

June 11, 2025
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05Jun

Ghana. Government clears all outstanding arrears owed SSNIT – Ato Forson

The Minister of Finance, Dr Cassiel Ato Forson, has assured the newly-inaugurated Board of Trustees of the Social Security and National Insurance Trust (SSNIT) that the government has fully settled all arrears owed to the pension fund. Speaking at the official inauguration of the board in Accra, Dr Forson reaffirmed the government’s commitment to a robust and sustainable pension system, stressing that all outstanding obligations to SSNIT have been honored. “I want to assure you that the government is current on all...

June 5, 2025
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May 2025
21May

Ghana. SSNIT bets on mobile money to drive accessibility

The Social Security and National Insurance Trust is betting on the widely used mobile money to improve pension accessibility and convenience, as it deepens its digital transformation strategy to reach a broader base of contributors. With mobile money transaction volumes and values surging to record highs in 2024, SSNIT is integrating mobile money platforms into its service delivery model. The aim is to make pension-related services more accessible to informal sector workers and the broader population who already use mobile...

May 21, 2025
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06May

Ghanaian PE, securities, pensions industry leaders sign compact to mobilise domestic capital

The Ghana Venture Capital & Private Equity Association (GVCA), one of Africa’s foremost VC industry associations, has launched an industry-wide “Compact” that champions local institutional asset allocations to venture capital and private equity. Founded in 2021, the Ghana Venture Capital Association (GVCA) acts as a key connector within Ghana’s private investment ecosystem, linking asset allocators, institutional investors, fund managers, portfolio companies, advisors, and service providers. Its growing membership consists of firms, including venture capital and private equity companies, institutional investors, and...

May 6, 2025
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April 2025
30Apr

96% of Ghanaian pensioners live on GH¢5,000 or less monthly – Paul Kofi Mante

At the 2025 edition of the Money Summit organized by the Business and Financial Times (B&FT), Paul Kofi Mante, Managing Director of EDC Investment Limited, raised urgent concerns about the state of pensions in Ghana, revealing that a staggering 96% of pensioners receive GH¢5,000 or less per month. Speaking as a panelist during a session focused on investment and retirement planning, Mr. Mante described the current pension reality as deeply worrying. He disclosed that out of the over 2 million Ghanaians aged 60 and above, fewer than 300,000 are enrolled on...

April 30, 2025
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March 2025
21Mar

The Causal Influence of Pension on the Participation of Older Workers in the Ghanaian Labour Market

By George Domfe, Kwadwo Opoku & Antoinette Tsiboe-Darko Population ageing has stirred up policy discourse on pension coverage in developing economies. While in most of these countries, a smaller proportion of older persons receive pensions in the form of regular payments from the state, a considerable proportion of them engage in active work to maintain their livelihood. These descriptions are typically true of Ghana. However, it remains unclear in the Ghanaian literature whether the absence of a pension is a...

March 21, 2025
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14Mar

2024 financial services monitor know better do better

By Old Mutual The key objective of the Old Mutual Financial Services Monitor is to provide a deep understanding of the working Ghanaian market, uncovering financial attitudes, perceptions, and behaviour in the informal and formal sectors. What makes Old Mutual’s Financial Services Monitor unique, is that its core objective is to support Old Mutual’s drive to champion the financial well-being of Ghanaians. This is aligned to Old Mutual’s overall purpose of becoming our customers’ first choice to sustain, grow and protect...

March 14, 2025
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14Mar

Ghanaians prioritise savings as economic challenges persist – Report

Amid economic uncertainties and rising financial stress, Ghanaians are shifting their focus towards savings and long-term financial security. The 2024 Old Mutual Financial Services Monitor has revealed a significant decline in the number of people dipping into their savings to cover shortfalls, signaling a growing emphasis on financial discipline. According to the report, only 18% of working Ghanaians used their savings to make ends meet in 2024, a sharp decline from 61% in 2023. This change suggests that more individuals are...

March 14, 2025
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