Chief Executive Officer of Dalex Finance and financial analyst, Joe Jackson has pointed to the country’s capital constraints as a critical factor undermining development.
He highlighted that despite Ghana having approximately GH¢60 billion in pension funds, very little of this capital is channelled into productive sectors of the economy.
“Just look at the capital deficit, we have GHC60 billion of pension funds, none of it goes to the productive sector,” he added.
Speaking as a keynote Guest Speaker at the Economic Dialogue on the theme: “Who owns the Ghanaian economy” organized by Media General in Accra on Thursday March 26, 2026, Mr. Jackson criticised the current structure governing pension fund investments.
He noted that excessive safeguarding of contributors’ funds has limited the ability of these funds to support national development.
The Dalex Finance CEO further observed that, unlike Ghana, many countries strategically deploy pension funds as instruments for economic growth, investing in infrastructure, industry, and other productive ventures.
He said Ghana has rather used its pension funds as a “piggy bank” for government, without maximising their developmental potential.
“We can have conversations about the fact that we are so corrupt and so scared about our future that we tied the pension funds in such legislation but it doesn’t go anywhere but it still does not absorb us from the fact that other countries are using their pension funds as a development tool, we have put it away as a piggy bank for government,” he stated urging a revised approach to investing pension funds.
