Ghana Stock Exchange Archives

15 May

GSE’s Financial Stocks Index Experiences Modest Upswing

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The Ghana Stock Exchange (GSE) is showing signs of expansion as its Financial Stocks Index (GSE-FSI) experienced a modest upswing. Buoyed by the encouraging performance of some financial stocks, the GSE-FSI returned about 5 percent for the first quarter of 2024, compared to the 12 percent it lost during the same period last year. Compared to the benchmark market-wide Composite Index (GSE-CI), which achieved 10.41 percent in 2024 compared to 12.3 percent last year at the same time, the GSE-FSI has performed better this year. For the top five companies out of the 13 GSE-listed financial companies involved in the…

17 Feb

GSE To Welcome New Mining Venture By End Of Q1

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The Ghana Stock Exchange (GSE) is poised to welcome a new mining venture to the market before the end of the first quarter of 2024. This move reflects the Exchange’s strategic push to diversify its portfolio and enhance investment opportunities in collaboration with both local and international mining ventures, and likewise bolster ongoing efforts to promote local ownership of the country’s mineral resources. According to the Head of Listings and New Products at GSE, Joyce Esi Boakye, discussions with the company, with Australian origins, are progressing significantly. Already, she said some mining companies, including Asante Gold Corporation and AngloGold Ashanti…

11 Sep

GSE Sees Turnaround From Worst To Third-Best In Africa

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The Ghana Stock Exchange (GSE) has shown a remarkable improvement in its performance from the beginning of 2023 to end of August, ranking as the third-best performing stock market on the continent. This achievement places it just behind Nigeria and Egypt, and represents a significant shift from the situation at close of 2022 when the local market was worst-performer in the region. During that time, portfolio reversals – especially from foreign investors, and rapid depreciation of the cedi had a detrimental impact. The Composite Index (GSE-CI) experienced a substantial rally, reaching 3,084.79 points during this period – marking a remarkable…

08 Aug

GSE Poised For Up To 18% Return

wontumionlineBusinessAbena Amoah, Ghana Stock Exchange

The Ghana Stock Exchange (GSE) could end the year with as much as an 18 percent return on account of non-financial stocks’ performance, databank has stated in a revision of its market outlook for the year. At beginning of the year, the financial asset manager pegged growth at around 12 percent – a sharp turn from the 13 percent drop recorded at the close of 2022. However, in its latest quarterly outlook note dubbed ‘Beyond the Trough: Stocks Remain in the Spotlight as a Glimpse of Economic Normalcy Emerges’, it noted that the 42023 return will be higher than earlier…

25 Jul

GSE Seeks Self-Regulatory Status For Commercial Paper Market

wontumionlineBusinessAbena Amoah, Ghana Stock Exchange

The Ghana Stock Exchange (GSE) is actively pursuing self-regulatory status from the Securities and Exchange Commission (SEC), in a bid to simplify the regulatory framework for the commercial paper (CP) market and bolster investor confidence. The move comes as GSE prepares to launch the CP market later this year, aiming to align its regulations with those of global markets and create a transparent and competitive environment for issuers and investors. During an industry engagement event named ‘Developing a commercial paper market in Ghana’, Abena Amoah, GSE-Managing Director, emphasised the significance of seeking self-regulatory status by stating: “What Ghana is looking…

05 Jul

GSE Market Cap Surges To All-Time-High In 1H23

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After a turbulent start, the Ghana Stock Exchange (GSE) closed the first half (IH) of the year on a strong note, since its market capitalisation soared to an all-time-high (ATH) of GH¢70.24billion as investors continue to find solace in equities. At the close of the first trading session for second-half of the year – Monday, July 3, 2023 – the metric had risen by 0.14 percent to GH¢70.34billion. This was propelled by the GSE Composite Index (GSE-CI) which achieved its second-highest monthly return to date in June 2023. The index – which tracks the broad market performance – advanced by…

26 Jun

Investment Potentials To Magnify As GSE Joins African Stock Exchange Coalition

wontumionlineBusinessAbena Amoah, Ghana Stock Exchange

The Ghana Stock Exchange (GSE) has formally joined the African Exchange Linkage Project (AELP), alongside over 30 other African stock exchanges, opening up wider opportunities for domestic investments. The initiative seeks to deepen liquidity, provide seamless investment opportunities and improve trading volumes across stock exchanges on the continent by providing access to investors in over 2,000 companies across sectors – ranging from consumer to financial services, technology and infrastructure – while opening up a new US$2trillion market capitalisation to investors. Besides, the platform will widen the market size for stockbrokers – allowing them to construct products and provide investment advisory…

16 May

Non-Bank Stocks To Maintain Ghana Stock Exchange Rally

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Non-bank stocks are projected to be the driving force behind the equities market, potentially resulting in a 12.5 percent return by end of the year – compared to the 13 percent loss at end of 2022 – according to a Quarterly Strategy Report published by fund management house DataBank. The report, titled ‘New Beginnings: Non-Bank Equities Take Centre Stage as Investors Navigate Debt Market Reset’, suggests that investors will continue to seek solace in the stock market, specifically in telecommunications, oil marketing and agricultural stocks, as they remain cautious of the debt market and shy-away from banking stocks due to…

13 May

GSE Posts Strong Performance In April Despite Economic Difficulties

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The Ghana Stock Exchange (GSE) posted positive gains in April in spite of the difficult macroeconomic conditions driven by the surge in shares prices of some companies. The gains made by Benso Oil Palm Plantation (BOPP), with its shares rising by 20.91 per cent, Unilever Ghana Limited (UNIL) by 20.00 per cent, GCB, 1.59 per cent, MTNGH, 0.80 per cent, and GOIL, 0.61 per cent, drove the performance of the Accra bourse, the GSE said in the summary of April’s market activities copied to the Ghanaian Times. “The GSE posted a year-to-date return of 12.18 per cent despite the fact…

25 Apr

GSE, PAPSS Partnership Will Propel Market Expansion – Analysts

wontumionlineBusinessGhana Stock Exchange, GSE, Pan African Payments and Settlement System, PAPSS

The Ghana Stock Exchange (GSE) – through its membership with the African Securities Exchanges Association (ASEA) – has signed a memorandum of understanding (MoU) with the Pan African Payments and Settlement System (PAPSS) to collaborate on ways to enhance the payment process for cross-border securities transactions in Africa. The MoU signing, which took place during ASEA’s 73rd Executive Committee Meeting on April 14, 2023 – alongside the 11th Building Africa Financial Markets (BAFM) seminar hosted by the Zimbabwe Stock Exchange (ZSE) – is anticipated to yield numerous advantages, including capital markets integration across the continent. PAPSS is a financial market…