Business tycoon and founder of oil marketing company ZEN Petroleum, William Tewiah, has emerged as the richest individual shareholder in the history of the Ghana Stock Exchange (GSE), following a sharp rally in the company’s share price.
According to a report by AfricaBillionaires, Tewiah’s 80% stake in ZEN Petroleum Holdings PLC, which he founded in 2010 and listed in April 2026, is now valued at about GH¢3.87 billion (approximately $338.1 million).
The valuation is based on a current share price of GH¢7.55, giving the company a market capitalisation of around GH¢4.83 billion. Tewiah reportedly holds about 512 million shares, with the stock gaining nearly 51% since its Initial Public Offering (IPO) price of GH¢5.00.
According to the report, this marks the largest disclosed individual equity holding in the history of the Ghanaian bourse.
The development also ends the long-standing dominance of veteran investor Daniel Ofori, who previously held the title of Ghana’s richest stock market investor.
Ofori is a seasoned capital markets player with stakes in GCB Bank, Société Générale Ghana, SIC Insurance, and CalBank. He built his portfolio over decades and was valued at about $64.95 million as of February 2026.
However, ZEN Petroleum’s IPO was heavily oversubscribed, reflecting strong investor appetite and confidence in the energy sector. The listing has since positioned the company among the top tier of stocks on the exchange by market value.
Tewiah’s rise reshapes Ghana’s investor wealth rankings and capital market dynamics, with indigenous energy firms increasingly driving market value.
AfricaBillionaires adds that while the valuation reflects market performance rather than liquid cash, it represents 15 years of value creation since ZEN Petroleum’s founding.
If current momentum continues, the Tewiah-led ZEN Petroleum could further strengthen its position on the GSE and influence market sentiment in the months ahead.
Source: Ghanaweb