Ghana’s equities market has demonstrated robust growth, reaching a market capitalization of 5.7 million United States dollars (USD) for the first five months of 2024, according to Abena Amoah, Managing Director of the Ghana Stock Exchange (GSE).
Amoah announced that the total market capitalization climbed to 84.1 billion Ghana cedis during this period, signaling a substantial increase from earlier benchmarks. She attributed this growth to a strong performance of the GSE composite index, which surged by nearly 20 percent to 19.2 percent in May 2024, up from 2.76 percent a year ago.
“Our market’s resilience is evident as we’ve seen market capitalization rise from 80 billion to approximately 84 billion Ghana cedis by the end of May,” Amoah stated during a briefing with the Institute of Financial Journalists (IFEJ).
Amoah highlighted trading activities and noted that 62 billion securities were traded, representing 75 percent of last year’s volume. She underscored the importance of these metrics in driving investor confidence and stimulating economic sectors across Ghana.
Looking forward, Amoah unveiled plans for a new initiative, “listed public companies,” aimed at facilitating the listing of state entities on the GSE. This initiative seeks to bolster governance standards and enhance liquidity, fostering an environment conducive to supporting small and medium enterprises (SMEs).
In her address, Amoah emphasized the critical role of accurate and insightful reporting by financial journalists in guiding informed investment decisions and advancing economic prosperity in Ghana.
Established in 1989, the Ghana Stock Exchange operates under the Stock Exchange Act of 1971. Its mission is to provide an efficient securities market that facilitates national economic growth through enhanced capital access and investment opportunities.
