The Importance of Pension Schemes in Ghana’s Economic Development: Insights from Managing Director, Kwabena Boamah

Kwabena Boamah, the Managing Director of Stanbic Investment Management Services, recently highlighted the crucial role that pension schemes play in the economic development of Ghana. Speaking at the ‘3rd Ghana Impact Summit’ organized by Impact Investing Ghana, Mr. Boamah emphasized the importance of direct investments in the real sector through pension schemes.

During a panel discussion on “Understanding Investor Perspectives: Key Criteria Limited Partners (LPs) Seek in Fund Managers,” Mr. Boamah pointed out that pension schemes have a fourth objective in their investment guidelines, which is to support the development of the Ghanaian economy. He stressed the need for pension schemes to have a visible impact on the economy by investing in private equity firms.

Mr. Boamah discussed the evolution of pension fund management in Ghana, noting the shift from government treasury bills to government bonds and eventually to alternative investments like private equity. He outlined the principles that Stanbic Investment Management Services follows when investing in private equity firms, focusing on the importance of the people, process, performance, and pipelines of the investment.

The Ghana Impact Summit, organized in partnership with the UN in Ghana and the Global Steering Group for Impact Investing, aims to bring together stakeholders in the Ghanaian ecosystem to drive progress on initiatives that can increase funding for impact and contribute to the achievement of the Sustainable Development Goals (SDGs).