1 week Ago By News Ghana
The Ghana Stock Exchange (GSE) closed 2024 with impressive gains, highlighted by a surge in investor confidence that propelled the market to new heights. The Composite Index saw a remarkable increase of 56.17 percent year-to-date (YTD), signaling a period of robust recovery.
Meanwhile, the Financial Stock Index rose by 25.20 percent, further reflecting the growing optimism among investors. One of the standout stories of the year was the remarkable performance of Unilever Ghana Limited (UNIL), which saw its share price skyrocket by 140.
44 percent. The consumer goods giant started the year at GH₵ 8.11 but closed at GH₵ 19.
50, making it the highest-gaining stock on the GSE. Despite trading only a small volume of shares—586,268—UNIL’s contribution to the market’s total value was significant, accounting for 0.90 percent of the total market value traded.
Unilever Ghana wasn’t the only company benefiting from strong investor sentiment. ABSA NewGold ETF (GLD), a gold-backed security, posted a striking 78.72 percent increase, with its share price climbing from GH₵ 218.
50 to GH₵ 390.50. Global gold prices remained favorable, driving the ETF’s performance and contributing to an impressive 48.
65 percent of the market’s total value traded, equivalent to GH₵ 513.98 million. MTN Ghana, the dominant telecom giant, continued to solidify its market leadership.
Its share price rose by 78.57 percent, jumping from GH₵ 1.40 to GH₵ 2.
50. MTN traded a substantial 234.5 million shares, contributing 40.
89 percent of the market’s total value, which amounted to GH₵ 431.99 million. The telecom sector’s strong showing is a testament to the increasing demand for connectivity in Ghana and beyond.
The banking sector also showed resilience, with GCB Bank making notable strides. Its share price rose by 87.35 percent, closing the year at GH₵ 6.
37. Despite trading a relatively smaller volume of 2.47 million shares, GCB contributed GH₵ 13.
37 million to the market’s value. Another impressive performer was Ecobank Transnational Incorporated (ETI), which saw its share price more than double, gaining 106.67 percent.
ETI’s growth, from GH₵ 0.15 to GH₵ 0.31, is indicative of investor confidence in regional banks, as the company traded 1.
79 million shares, accounting for a smaller portion of the market value. However, not all stocks enjoyed a positive outcome. Access Bank Ghana saw a solid 52.
94 percent gain, closing at GH₵ 5.20, while Standard Chartered Bank posted a more modest 31.05 percent increase to finish the year at GH₵ 23.
00. In contrast, CAL Bank struggled with a 27.08 percent decline, closing at GH₵ 0.
35. The overall performance of the GSE in 2024 demonstrates a market that is on the rebound. With the Composite Index seeing a substantial increase, and several key stocks posting double- and triple-digit gains, Ghana’s stock market looks poised for continued growth in 2025.
Experts attribute this growth to factors such as improved investor sentiment, favorable economic policies, and the strong performance of key sectors like telecoms, consumer goods, and gold-backed securities. While there are still challenges ahead, including global economic uncertainties, the GSE’s performance in 2024 offers a bright outlook for the year ahead. The success of major players like Unilever Ghana, MTN, and ABSA NewGold demonstrates that there is significant potential in Ghana’s equity market, and many investors are watching closely to see if these gains can be sustained in the coming year.
The stage is set for an exciting 2025 as Ghana’s economy continues to show signs of resilience and growth..
