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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Ghana’s total pension fund assets rose to a record GH¢86.23 billion in 2024, up 39.5% from GH¢61.8 billion in 2023, according to the Bank of Ghana’s 2024 Financial Sector Report on pension activities.
The growth was driven by stricter enforcement against employers defaulting on mandatory contributions, increased enrollment, partial government redemption of arrears, and favourable investment returns.
Private pension schemes – Tier 2 and Tier 3 – were the main growth drivers, with Assets Under Management (AUM) rising 37.4% to GH¢63.88 billion from GH¢46.50 billion in 2023.
Source: newsthemegh.com