This was revealed in a new report by the African Private Capital Association (AVCA), developed in partnership with the Chamber of Corporate Trustees of Ghana and British International Investment (BII) under the Ghana Investment Support Programme (GHISP).

The report discloses a steep increase in pension funds’ appetite for alternative investments. More than half of Ghanaian pension providers now hold exposure to private capital, and 65% say they intend to raise allocations to private equity within the next five years.

By the end of 2024, total pension assets under management in Ghana reached GHS 86.4 billion ($6.2 billion), yet only 4.4% of the 25% limit set by regulators is being channelled into alternatives such as private equity and venture capital. 

This figure lags far behind Nigeria’s 34% utilisation of a 5% cap and South Africa’s 8% allocation under its 15% ceiling.

Despite this underutilisation, the report says that Ghana’s pension funds are gradually shifting from conservative savings strategies to more productive, growth-oriented investments. 

Many are targeting healthcare (55%), agribusiness (45%), and technology (40%), while by asset class, 38% favour property and infrastructure, 24% prefer private equity, and 19% are exploring venture capital.

However, AVCA’s findings also expose major obstacles preventing deeper engagement with private markets. Pension providers identified currency volatility, complex fund licensing processes, limited investable pipelines, and weak institutional capacity as key challenges. 

Nearly nine in ten pension funds (89%) interacted with fewer than three fund managers in the past year, underlining the limited depth of Ghana’s investment ecosystem.

The government’s May 2025 directive, which encourages pension funds and insurers to allocate at least 5% of assets to private equity and venture capital by 2026, has provided much-needed policy backing. This move is expected to mobilise domestic capital and drive growth across productive sectors.

To speed up progress, AVCA’s report outlines four key strategies:

• Enhancing data transparency and engagement between funds and managers
• Building institutional capacity through targeted training and pooled investment structures
• Deploying blended finance and co-investment tools to mitigate risk
• Advancing regulatory reforms to recognise Limited Partnerships and streamline fund licensing.

Commenting on the report, Abi Mustapha-Maduakor, chief executive officer of AVCA, stated:

“Ghana’s pension funds are at an inflexion point. The data highlights both the scale of investable domestic capital and the practical barriers that continue to hold it back. Unlocking this potential will require a combination of regulatory clarity, institutional capacity-building, and deeper collaboration between fund managers and local investors. 

“This mirrors a broader shift across Africa, where governments are enacting policies to channel domestic savings into productive investments at home and across borders. With these foundations in place, Ghana’s pension system can become a catalyst for long-term, sustainable growth.”

AVCA projects that Ghana could become a leader in pension-led private capital mobilisation in West Africa within five years if this momentum is sustained. The report forms part of AVCA’s Knowledge Exchange Initiative (KEI), a year-long capacity-building initiative launched in partnership with BII to enhance local institutional participation in private markets.

If Ghana’s pension reforms and fund managers align effectively, the country could bring in billions of local investment, turning its pension base into a new engine for national development.

The post Ghana’s Pension Funds Could Unlock Over $1 Billion for Private Investment — AVCA appeared first on Tech | Business | Economy.

In a circular dated August 11, 2025, and signed by Obiora Ibeziako, Head of the Benefits and Insurance Department, PenCom directed all PFAs and PFCs to immediately halt the processing of such applications from the affected banks.

“Following the cited letter, the Commission instructs that Pension Fund Administrators, including Closed Pension Fund Administrators, and Pension Fund Custodians, immediately stop accepting or processing equity contribution applications submitted by the following Primary Mortgage Banks,” the circular stated.

The affected banks are Jigawa Savings & Loans Limited, FHA Mortgage Bank Limited, Delta Trust Mortgage Bank Limited, AG Mortgage Bank Limited, Infinity Trust Mortgage Bank Plc, First Trust Mortgage Bank Limited, and Mutual Alliance Mortgage Bank Limited.

Explaining the decision, PenCom’s spokesperson, Ibrahim Buwai, said the mortgage banks failed to generate the mortgages for which pension funds had been approved. The loans were intended to help approved applicants pay their equity contributions through mortgages. However, investigations revealed that some of the institutions did not deliver on this mandate, breaching regulatory requirements.

In September 2022, PenCom introduced a policy allowing Retirement Savings Account (RSA) holders to use up to 25 percent of their RSA balance as equity contribution for residential mortgages.

The post PenCom Blacklists Seven Mortgage Banks for Housing Loan Violations appeared first on Tech | Business | Economy.

Unlike their futures-based predecessors, these ETFs directly hold the underlying assets, offering investors a transparent and potentially less volatile way to gain exposure to leading cryptocurrencies.

This development signifies a major step in the maturation of digital assets within mainstream finance and opens new avenues for institutional investment.

The Path to Approval

The journey to the approval of spot Bitcoin and Ethereum ETFs has been long and fraught with regulatory hurdles.

The Securities and Exchange Commission (SEC) had previously approved Bitcoin and Ethereum futures ETFs in 2021, but spot ETF applications faced repeated rejections.

The breakthrough came in 2023 with a court ruling in favor of Grayscale Investments, which found the SEC’s reasons for rejecting their spot ETF application inadequate.

This ruling, coupled with the increasing acceptance of digital assets, paved the way for the SEC to approve eleven spot ETFs in 2024.

Advantages for Institutional Investors

For institutional investors, the introduction of spot cryptocurrency ETFs offers several significant advantages.

These ETFs provide easier access to Bitcoin and Ethereum, allowing institutions to add these digital assets to their portfolios without the complexities of direct ownership, such as securing private keys or using cryptocurrency exchanges.

This convenience is complemented by the diversification potential of cryptocurrencies, which often exhibit low correlation with traditional asset classes, enhancing portfolio diversification and potentially improving risk-adjusted returns.

However, it is crucial for investors to recognize the inherent risks associated with these investments. Cryptocurrencies are highly volatile, and their regulatory environment is still evolving, which could impact the value and operation of these ETFs. Additionally, investors must consider the associated costs, such as sponsor fees ranging from 0.20% to 1.50%.

Ethereum’s Unique Position

While Bitcoin spot ETFs present compelling investment opportunities, Ethereum spot ETFs offer distinct advantages due to the technological versatility of the Ethereum blockchain.

Unlike Bitcoin, which primarily serves as a store of value, Ethereum supports smart contracts and decentralized applications (dApps), enabling innovative use cases in decentralized finance (DeFi) and non-fungible tokens (NFTs).

This functional diversity provides Ethereum with a significant edge in terms of potential for innovation and market disruption.

Ethereum’s adoption across various sectors underscores its growing importance. Many projects and companies are building on the Ethereum blockchain, creating a robust ecosystem that enhances its long-term value proposition.

The recent transition to Ethereum 2.0, with its shift from proof-of-work (PoW) to proof-of-stake (PoS), has significantly improved its scalability, security, and sustainability.

These technological upgrades bolster investor confidence and attract more users to the network.

The Institutional Investor Landscape

The introduction of Bitcoin and Ethereum spot ETFs has broadened access to the cryptocurrency market for a variety of institutional investors.

Pension funds, hedge funds, endowments, foundations, trusts, and high-net-worth individuals (HNWIs) are now exploring these new investment vehicles based on their distinct risk-return objectives.

Pension Funds: Pension funds manage retirement savings and prioritize capital preservation and consistent returns. While they are generally risk-averse, the historically low correlation of cryptocurrencies with traditional asset classes makes spot ETFs a potential diversifier.

Hedge Funds: Hedge funds, known for their high risk tolerance and short investment horizons, are likely to embrace spot ETFs for their potential high returns. These funds thrive on trading price movements and may leverage the inherent volatility of cryptocurrencies for short-term gains.

Endowments and Foundations: Endowments, with their perpetual time horizons, and foundations, with more immediate funding obligations, may allocate a small portion of their portfolios to cryptocurrencies. These digital assets can offer substantial appreciation over time, enhancing their ability to support institutional missions.

Trusts and HNWIs: Trusts and HNWIs, often managed by Registered Investment Advisors (RIAs), may utilize spot ETFs for potential capital appreciation, diversification, or hedging purposes. The innovative nature of cryptocurrencies and the potential for outsized returns make these instruments attractive to wealthier individuals.

The Impact and Future of Spot Cryptocurrency ETFs

The introduction of spot Bitcoin and Ethereum ETFs has significantly impacted the cryptocurrency investment landscape.

These ETFs have democratized access to cryptocurrencies, attracting a diverse investor base that includes institutional and retail investors who previously were hesitant or unable to invest directly in digital assets.

The regulated nature of these instruments offers increased accessibility and security, fostering significant volume growth and creating a positive feedback loop of increasing demand.

Looking ahead, the future dominance of spot ETFs is anticipated to persist in the near term. The convenience, security, and regulatory compliance offered by these instruments are likely to continue attracting a broad spectrum of investors.

However, futures-based ETFs may still find relevance for investors pursuing specific strategies, such as leveraging positions or engaging in short-selling.

As the SEC continues to navigate the regulatory landscape for cryptocurrency ETFs, other prominent cryptocurrencies like Cardano (ADA) and Solana (SOL) stand out as potential candidates for future approval. Both cryptocurrencies are prominent smart contract platforms with substantial market capitalizations and robust ecosystems. Their approval would further diversify the range of available cryptocurrency ETFs and enhance institutional adoption.

Key Takeaways

The introduction of spot Bitcoin and Ethereum ETFs represents a pivotal development in financial markets, providing a more direct and transparent way for institutional investors to gain exposure to leading cryptocurrencies.

Despite the inherent volatility and regulatory uncertainties, the long-term potential for substantial returns and diversification benefits makes these ETFs an attractive proposition.

As these products gain traction, they are expected to play a significant role in shaping the future landscape of cryptocurrency investments, fostering greater market stability and efficiency.

The continued evolution of the regulatory environment and the potential approval of additional cryptocurrencies like Cardano and Solana will further influence the trajectory of cryptocurrency ETFs and their adoption by institutional investors.

*The writer: Heath Muchena is the founder of Proudly Associated and author of Tokenized Trillions, Blockchain Applied and more.

The post Unlocking New Institutional Investment Horizons with Spot Bitcoin & Ethereum ETFs appeared first on Tech | Business | Economy.

The new branch office is located at 76A Adetokunbo Ademola Street Victoria Island Lagos State.

The Pension Fund Administrator noted that the new branch is an additional avenue for the company to serve the pension needs of its current and prospective clients. Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, highlighted that the new branch is part of the organisation’s efforts at availing customers’ the opportunity to directly interact with the company as regards their pension contributions, retirement plans, benefits and any other information that they may need.

“The new branch is a fulfilment of our promise to make quality pension fund administration and financial management services available to more Nigerians. This expansion is part of our growth strategy to spread our footprints across Nigeria and enhance accessibility to pension services. As usual, customers can enjoy excellent customer experience at the new branch, while we continue to ensure availability of our  digital channels for as many customers who wish to transact from the comfort of their homes or offices,” Olumide said.

“The growing size of pension assets is impacting the financial landscape, and as a forward-looking pension fund administrator, we understand that increasing the accessibility of our pension services will aid the overall quality of experience for pension contributors” he added.

Nike Bajomo, Executive Director, Business Development, Stanbic IBTC Pension Managers, while appreciating clients for the continued trust placed in the organisation to support their financial journeys, she noted that the organisation would continue to provide world-class pension fund solutions to make client experience optimal at all touch points.

“We cannot but appreciate our esteemed clients for their unwavering commitment to us. They are the reason we exist and the reason we will never cease to innovate and deliver quality financial solutions to meet their needs. On behalf of the board, management, and staff of Stanbic IBTC Pension Managers, we say thank you for sharing our dream and for giving us the opportunity to serve you.”

Stanbic IBTC Pension Managers is a leading Pension Fund Administrator with extensive experience in investment management and pension fund administration. Additional information on the organisation’s services can be found at stanbicibtcpension.com.

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