Ghana Stock Exchange adjudged 2nd best in Africa

The Ghana Stock Exchange ended last year as Africa’s 2nd best performing stock market, in both cedi and dollar terms.

The exchange recorded 43.66% gain for investors, whilst investors enjoyed 38.59% return in dollar term. The GSE enjoyed one of its best runs in recent times last year, reversing three consecutive years’ losses.

Reports indicates that the GSE would have been the best performing market hard it not been the pressure on the cedi which allowed the position to slip to the Lusaka Stock Exchange.

The Managing Director of the GSE, Ekow Afedzie at a breakfast meeting with the Media mentioned that investor sentiments had sustained the growth of the market as the bond market also witnessed remarkable growth despite the existence of Covid-19.

At the end of December 31st last year, the market capitalization had grown significantly to close the year at ¢64.49 billion being the highest ever year-end market capitalization breaking the previous record of GHs64.35 billion set in 2014.

Read also: GSE returns 36% in Cedi terms to investors in first half of 2021

According to the trading results, 13 stocks on both the main and SME Market registered gains in their market value, whilst five stocks recorded losses.

The best performing stock was Fanmilk (+270.37%), followed by Benso Oil Palm Plantation (232.50%) and Enterprise Group (+99.29%).

However, the worst performing stock was Cocoa Processing Company (-33.33%). It is still selling at 2 pesewas per share.

Total Bonds and Notes Traded during the same period was GH⊄208.81billion (92.62%) compared with GH⊄108,4 billion in 2020.