The Ghana Stock Exchange (GSE) is preparing to register its first traditional Initial Public Offering (IPO) in seven years.
The announcement was made by Kasapreko Company Limited, a Ghanaian beverage manufacturer, which plans to offer up to 25% of its equity to the public by the end of 2025. This move would mark the first true IPO since MTN Ghana's 2018 listing, which raised $238.5 million.
Kasapreko’s planned IPO falls within the established legal framework and could rekindle investor interest in Accra’s financial market.
“The company is seeking an optimal mix of debt and equity to support its expansion both nationally and across Africa. This will allow us to deepen stakeholder engagement and broaden our access to long-term capital,” said Richard Adjei, Managing Director of Kasapreko, while presenting the project during a session held at the GSE. He explained that the decision reflects the company’s need to diversify its financing sources.
Abena Amoah, CEO of the GSE, welcomed the initiative, highlighting its potential to boost market activity. She also expressed hope that this move would encourage other companies—including public entities—to consider IPOs in the near future.
In 2024, Kasapreko achieved 45% revenue growth, reaching $256 million, driven by strong sales both locally and in export markets. Its net profit increased by 574% year-on-year. In the first quarter of 2025, this momentum continued with a 52% increase in revenue and a 184% rise in post-tax profit. These results are attributed to optimized cost management and strong sales performance.
Founded in 1989, the company holds about 45% of Ghana’s beverage market and operates in 14 African countries.
In February 2024, it raised 600 million cedis through an unsecured bond issuance on the Ghana Fixed Income Market (GFIM) to support working capital and refinance capital expenditures.
Analysts believe this IPO could invigorate the Ghanaian financial market and pave the way for new listings. It also represents a potential lever for local businesses seeking to raise public capital.
