Ghana’s pension industry has reached a major milestone, with assets under management surpassing GH¢120 billion, strengthening the country’s capacity to finance national development, infrastructure projects, and long-term investments.
The announcement was made by the Chief Executive Officer of the National Pensions Regulatory Authority (NPRA), Dr. Christopher Boadi-Mensah, during the Africa Pension Supervisors Association (APSA) Annual Conference held in Accra from July 29–31, 2026.
The conference brought together pension regulators, policymakers, financial experts, and development partners from across Africa to discuss the future of pension schemes, retirement security, and sustainable economic growth.
Ghana’s Pension Industry Records Strong Growth
Dr. Boadi-Mensah said the continuous growth of Ghana’s pension fund industry reflects the country’s commitment to building a reliable and sustainable retirement system while creating a significant pool of long-term investment capital.
According to him, the industry’s GH¢120 billion in pension assets now plays an important role in supporting productive investments, economic development, and financial stability.
He noted that the expanding pension sector is helping to strengthen Ghana’s economy while improving retirement security for workers across the country.
Informal Sector Workers Still Face Pension Coverage Gap
Despite the industry’s progress, Dr. Boadi-Mensah identified the exclusion of millions of informal sector workers from pension schemes as one of Africa’s biggest retirement challenges.
He explained that many traders, farmers, artisans, transport operators, and self-employed workers still lack access to formal retirement savings, leaving them financially vulnerable in old age.
According to the NPRA CEO, pension systems must become more inclusive to ensure that every worker, regardless of employment status, can benefit from retirement protection.
Technology Can Expand Pension Enrollment
Dr. Boadi-Mensah urged pension regulators across Africa to leverage digital technology to simplify registration processes and make pension products more accessible and affordable for workers in the informal economy.
He added that properly managed pension funds can also support economic growth, finance major infrastructure projects, stimulate business investment, and create employment opportunities across the continent.
The NPRA Chief Executive further praised the Government of Ghana for prioritizing pension inclusion and expanding retirement protection for both formal and informal sector workers.
He stressed that retirement security should be available to every Ghanaian rather than a privilege reserved for employees in the formal workforce.
Ghana Showcases Investment and Tourism Opportunities
Addressing delegates at the conference, Dr. Boadi-Mensah encouraged participants to experience Ghana’s tourism, culture, and hospitality, describing the country as a peaceful democratic nation with a growing economy and attractive investment environment.
He said the APSA conference provides an important platform for African regulators to exchange ideas, share best practices, and develop practical strategies for strengthening pension regulation across the continent.
According to him, collaborative efforts today will shape stronger and more sustainable retirement systems for millions of Africans in the future.
Vice President Calls for Inclusive Pension Reforms
Opening the conference, Vice President Jane Naana Opoku-Agyemang called for more inclusive, resilient, and sustainable pension systems that can respond to Africa’s changing workforce and demographic trends.
She emphasized the urgent need to extend pension coverage to the informal sector, which accounts for the majority of Africa’s labor force but remains largely excluded from formal retirement schemes.
The Vice President also highlighted the importance of digital innovation in improving pension administration, enhancing customer service, and increasing participation in retirement savings programs.
Stronger African Cooperation Needed
Prof. Opoku-Agyemang advocated closer collaboration among African pension regulators, saying stronger cross-border partnerships, improved governance, and knowledge-sharing would enhance retirement security and strengthen pension systems across the continent.
She commended both the Africa Pension Supervisors Association (APSA) and the National Pensions Regulatory Authority (NPRA) for organizing the conference, expressing confidence that the discussions would generate practical recommendations to improve pension regulation and expand retirement protection throughout Africa.
The APSA Annual Conference continues to serve as a key forum for policymakers and pension regulators to discuss emerging trends, promote best practices, and develop sustainable pension systems that support inclusive economic growth, financial security, and long-term development across Africa.
Source: newsthemegh.com