By Ghana is strengthening its position as an emerging fund domiciliation jurisdiction in West Africa, driven by renewed policy attention, regulatory reform, and growing collaboration between government, regulators, pension funds and private-sector stakeholders.
Recent developments are laying the groundwork for enhanced local capital mobilisation, positioning Ghana to attract long-term domestic, diaspora, and international capital.
While Ghana’s private capital market has expanded steadily, the country’s fund ecosystem remains largely company-based.
This structure can constrain participation by global institutional investors and development finance institutions, which typically invest through tax-transparent, pass-through vehicles such as limited partnerships, the global standard for private equity and venture capital funds.
Strengthening Ghana’s fund domiciliation framework, therefore, represents both a market opportunity and a strategic policy priority.
High-Level Domiciliation Roundtable Signal Growing Momentum
This momentum was reinforced at the Ghana Fund Domiciliation Roundtable, held in Accra on 5 February 2026, with the theme “Unlocking Domiciliation Opportunities for Ghana.”
The high-level engagement brought together senior policymakers, regulators, fund managers, pension trustees, development finance institutions, and ecosystem enablers to examine Ghana’s progress, identify gaps, and chart practical next steps.
The Roundtable forms part of a broader ecosystem-strengthening agenda, contributing to Africa-wide efforts to promote locally domiciled, transparent, and well-regulated investment vehicles that support inclusive economic growth, particularly for women- and youth-focused micro, small, and medium-sized enterprises (MSMEs).
Keynote addresses by senior representatives from the Ministry of Finance, the Securities and Exchange Commission (SEC), and the National Pensions Regulatory Authority (NPRA) underscored the Government of Ghana’s commitment to regulatory coordination, pension participation, and long-term capital mobilisation through alternative investment vehicles.
Expanding Fund Structures and Inclusive Capital Pathways
Discussions throughout the Roundtable focused on two core pillars of Ghana’s domiciliation reform agenda.
The first pillar examined the operationalisation of limited partnerships as an alternative fund structure, including the legal and regulatory reforms required to align Ghana’s framework with global best practice while safeguarding investor protection and market integrity.
The second pillar explored alternative funding pathways for youth- and women-focused MSMEs, highlighting the role of blended finance, impact funds, crowdfunding, and angel investing in unlocking patient, risk-tolerant capital.
Participants emphasised the importance of mobilising domestic institutional capital, including pension funds, alongside development and private investment.
Across sessions, participants highlighted the importance of inter-agency coordination across the Ministry of Finance, SEC, NPRA, the Office of the Registrar of Companies, and ecosystem actors to ensure coherence between legislation, regulatory guidelines, and market practice.
Voices from the Ecosystem
Reflecting on the significance of the engagement, Mr Louis Kwame Amo, Director of the Financial Sector Division, Ministry of Finance, noted: “Fund domiciliation aligns directly with our efforts to deepen domestic capital markets.
“The Ministry of Finance is working closely with the Securities and Exchange Commission, the National Pensions Regulatory Authority, the Bank of Ghana, the Registrar of Companies, and the Ghana Revenue Authority to clarify roles, reduce duplication, and align supervisory standards with international best practice.
The goal is a predictable, coordinated, and risk-based regulatory environment that inspires confidence.”
Speaking on the ecosystem dimension, Maame Dadson, of Stafford Law, Ghana, a member of the Collaborative for the Domiciliation of Funds in Africa (CDFA), added: “This Roundtable marks a shift from diagnosis to action.
The discussions demonstrated a strong appetite among regulators, investors, and fund managers to collaborate on a domiciliation framework that is globally competitive and aligned with Ghana’s development priorities.
From an inclusion perspective, Amma Lartey of Impact Investing Ghana emphasised:
“Fund domiciliation is not only a technical or legal issue. It is a pathway to channel capital more effectively to women and youth entrepreneurs.
Locally domiciled funds can play a catalytic role in building an inclusive private-sector economy.”
Toward Implementation and Continued Collaboration
The Roundtable concluded with a broad consensus on the need for continued policy dialogue, targeted advocacy, and follow-up engagements to translate recommendations into implementation.
Planned next steps include bilateral engagements with regulators, follow-up ecosystem consultations, and broader dissemination of policy recommendations to maintain momentum.
The engagement reaffirmed the importance of collaboration among government institutions, development partners, industry associations, and private-sector actors in building a fund-domiciliation ecosystem that supports capital mobilisation, market integrity, and inclusive growth.
Conveners and Partners
The Ghana Fund Domiciliation Roundtable was convened by the Collaborative for the Domiciliation of Funds in Africa (CDFA), in partnership with the Ghana Venture Capital and Private Equity Association (GVCA) and Impact Investing Ghana (IIGH), as part of the broader WEAVE Africa learning and ecosystem-strengthening initiative.
This Roundtable was convened in connection with the release of the Domiciliation of Investment Vehicles in Africa study. It identifies countries such as Mauritius, Rwanda, Morocco, and Ghana as leading examples, while underscoring the untapped potential of pension funds and local investors across Africa.
Commissioned by the Mastercard Foundation, the study was led by MEDA in collaboration with Momentus Global, Stafford Law, and Samawati Capital. The Ghana Fund Domiciliation Roundtable provided a platform to translate these continental insights into practical, country-level dialogue and action.
