Chief Executive Officer of Axis Pensions, Afriyie Oware
Chief Executive Officer of Axis Pensions, Afriyie Oware, has welcomed the recent appreciation of the Ghana cedi, describing it as a positive development for the pensions industry and the broader financial landscape.
Speaking with the media on the sidelines of 7th edition of the Pension Strategy Conference on May 14, 2025, Oware noted that currency stability is crucial for preserving the value of pension funds and ensuring long-term real returns for contributors.
“The role of pensions funds is to deliver long-term real returns and to preserve purchasing power. To the extent that this is sustainable over the long term, we are happy,” he stated.
“For instance, if pensions portfolios are generating solid returns and we can bring down inflation to perhaps single digits, then it means we will be able to generate a real return of about 10 to 12%, which is what we are looking for as an industry,” Oware added.
He mentioned that while the recent appreciation is “exciting,” the industry is more interested in seeing a sustained trend over the long term, which will further support portfolio stability and value preservation.
The Ghanaian cedi has recorded significant gains against major international currencies in recent weeks. As of mid-May 2025, the cedi has appreciated by over 7% against the US dollar, driven by a combination of improved foreign exchange inflows, particularly from cocoa and gold exports, as well as disciplined fiscal and monetary policies by the government and the Bank of Ghana.
Market analysts also point to renewed investor confidence following recent macroeconomic reforms and continued engagement with the International Monetary Fund (IMF), which have bolstered the country’s reserves and improved liquidity.
MA
