Stock market surpasses GH₵165 bn on share rally
Ghana’s stock market extended its upward momentum last week, buoyed by sustained gains in financials, telecommunications and consumer stocks, which together pushed the market’s total capitalisation past GHS165 billion.
The strong rally reflected deepening investor confidence and optimism about the broader economy as the country enters the final quarter of 2025.
The Ghana Stock Exchange Composite Index (GSE-CI), which tracks all listed equities, advanced 3.0 per cent to close Friday’s session at 8,410.56 points, up from 8,161.85 points at the start of the week.
This performance translated into an additional GHS3.28 billion in market capitalisation, lifting the total to GHS165.63 billion. It is one of the highest valuations seen this year.
Trading activity was solid, with a total of 6.7 million shares valued at approximately GHS27.4 million changing hands. Monday and Thursday recorded the busiest sessions, driven largely by robust demand for banking and telecom equities.
Although trading volumes dipped slightly on Friday, prices remained stable across most counters. This is a sign that investor sentiment continues to hold firm ahead of upcoming third-quarter earnings releases.
Among the top performers, GCB Bank closed the week at GHS15.00, CalBank traded at GHS0.69, while Republic Bank Ghana settled at GHS1.20.
The GSE Financial Stocks Index, which measures the performance of listed banks and financial institutions, ended at 3,880.46 points, underscoring the sector’s contribution to the year’s market rally.
In telecommunications, Scancom PLC (MTN Ghana) remained the most actively traded stock, closing at GHS4.52 with nearly 630,000 shares worth GHS2.85 million traded.
The telecom giant continues to attract institutional and retail investors alike, supported by its strong earnings outlook and consistent dividend history.
The consumer sector also witnessed renewed interest, led by Fan Milk PLC, which gained traction to close at GHS5.45.
Overall, market optimism was buoyed by a stable cedi, declining inflation and positive macroeconomic indicators, which have made equities increasingly attractive relative to money market instruments.
So far in 2025, the GSE Composite Index has surged by over 72 per cent, while the GSE Financial Stocks Index has climbed nearly 63 per cent. This cements Ghana’s bourse as one of Africa’s best-performing frontier markets this year.
