GSE adjudged 6th best performing stock market in Africa

The Ghana Stock Exchange (GSE) has emerged as a standout performer in Africa’s financial landscape, securing its position as the 6th best-performing stock market on the continent in 2024.

Bolstered by a robust economic recovery, supported notably by an International Monetary Fund (IMF) program, the GSE Composite Index continued its upward trajectory through February, boasting impressive returns of 3.12% and 4.86% for the Composite and Financial Stock indices, respectively.

The market’s resilience is underscored by a notable surge in activity, with transactions witnessing a remarkable 62.41% uptick compared to the previous year.

Top equity performers on the local bourse for February 2024 include Unilever, Enterprise Ghana, and SCB, each securing substantial price gains.

Moreover, the Ghana Fixed Income Market exhibited robust growth, culminating in a 44.24% surge in volume traded compared to the same period in 2023.

Notably, long-term government securities, short-term government instruments, and corporate securities each played pivotal roles in shaping market dynamics, reflecting a diverse investment landscape.

With a year-to-date volume traded surpassing previous records by 46.36%, the financial markets stand as a beacon of stability and opportunity in the region, enticing both domestic and international investors alike.

Source:norvanreports