Ghana Re to Make Historic Stock Exchange Debut as First Reinsurer

In a landmark development for Ghana's financial sector, Ghana Reinsurance PLC (Ghana Re) is poised to become the first reinsurance company to list on the Ghana Stock Exchange (GSE), marking a significant step in the country's evolving financial landscape.

Strategic Listing to Boost Capital and Growth

The announcement came from Prof. Michael Kpessa-Whyte, Director General of the State Interests and Governance Authority (SIGA), during Ghana Re's 22nd annual general meeting in Accra. This strategic move aligns with Ghana's broader efforts to strengthen its economic infrastructure and business sustainability.

"The Minister of Finance has authorized the study of many of these companies to understand their profile, after which there would be a cabinet memo on the decision," stated Prof. Kpessa-Whyte.

Government Support and Corporate Governance

The initiative has received strong backing from President John Mahama, who emphasizes the importance of aligning listed companies with robust corporate governance standards. This move reflects the growing sophistication of Ghana's business networks and financial community.

Dividend Performance and Future Prospects

• 2024 dividend payment: GH¢13 million to government
• 2023 dividend payment: GH¢24 million
• Decline attributed to strategic profit retention and business expansion plans

Management Perspective and Future Vision

Mr. Seth Kobla Aklasi, Managing Director for Ghana Re, expressed optimism about the listing, citing strong market performance and the company's commitment to expansion without government funding. The company aims to maintain its status as one of Ghana's most efficiently run self-sustaining entities while exploring new territories for growth.