Ghana Stocks Extend Gains as Financials and Telecoms Lift Market Value Past GH¢165bn

Ghana’s stock market continued its winning streak last week, helped by gains in banking, telecom and consumer shares. The advance pushed the market’s total value above GH¢165 billion, reflecting growing confidence among investors and a strong start to the final quarter of the year.

The Ghana Stock Exchange Composite Index (GSE-CI), which tracks all listed companies, ended Friday at 8,410.56 points, higher than 8,161.85 points recorded at the start of the week. The rise added about GH¢3.28 billion to the market’s total capitalization, taking it to GH¢165.63 billion.

In all, about 6.7 million shares worth GH¢27.4 million were traded during the week. Monday and Thursday saw the highest activity, mainly in the banking and telecom sectors. Although trading slowed slightly on Friday, most prices held steady, showing that investors were still confident ahead of upcoming quarterly results.

On Friday, GCB Bank closed at GH¢15.00, Cal Bank at GH¢0.69, and Republic Bank Ghana at GH¢1.20. The index that tracks financial institutions, the GSE Financial Stocks Index, ended at 3,880.46 points, keeping banks among the market’s top performers this year.

Telecom giant Scancom PLC, operator of MTN Ghana, finished the day at GH¢4.52. It remained the most actively traded stock of the week, with nearly 630,000 shares worth about GH¢2.85 million changing hands.

Fan Milk PLC, one of the leading consumer goods firms, closed Friday at GH¢5.45. The stock attracted renewed interest from investors who expect stronger sales in the last quarter of the year.

Market sentiment stayed positive, supported by easing inflation, a relatively stable cedi, and expectations of healthy company earnings. Analysts say these factors continue to make equities attractive compared to other investment options.

So far this year, the GSE Composite Index has risen by more than 72 percent, while the GSE Financial Stocks Index has gained almost 63 percent. The strong performance highlights Ghana’s stock market as one of Africa’s most promising frontier exchanges in 2025.

As the year draws to a close, traders and analysts expect activity to remain firm, helped by improving liquidity and renewed confidence from both local and foreign investors.

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