The Ghana Stock Exchange (GSE) wrapped up 2024 with a strong showing, marked by a 56.17 percent year-to-date (YTD) increase in the Composite Index and a 25.20 percent year-to-date (YTD) rise in the Financial Stock Index.
These figures underscore a year of investor confidence and market recovery.
Unilever Ghana Limited (UNIL) was the standout performer of 2024, achieving an impressive 140.44 percent increase in its share price. Starting the year at GH₵ 8.11, UNIL closed at GH₵ 19.50, making it the highest-gaining stock on the GSE.
The stock recorded a trading volume of 586,268 shares, accounting for 0.19 percent of total market volume. In value terms, UNIL contributed 0.90 percent of the total market value traded, equivalent to GH₵ 9.55 million.
ABSA NewGold ETF (GLD), a gold-backed security, also performed robustly, posting a 78.72 percent increase. Its share price surged from GH₵ 218.50 to GH₵ 390.50, driven by strong global gold prices. GLD accounted for 48.65 percent of the market’s total value traded, equivalent to an impressive GH₵ 513.98 million.
MTN Ghana (MTNGH) solidified its dominance, with its share price climbing by 78.57 percent, closing at GH₵ 2.50 from GH₵ 1.40. The telecom giant traded a staggering 234.5 million shares, contributing 40.89 percent of the market’s total value traded, equivalent to GH₵ 431.99 million.
In the banking sector, GCB Bank (GCB) emerged as a strong performer, with its share price rising by 87.35 percent, closing at GH₵ 6.37. GCB traded 2.47 million shares, contributing 1.27 percent of the market’s total value, equivalent to GH₵ 13.37 million.
Ecobank Transnational Incorporated (ETI) also delivered a solid 106.67 percent gain, with its share price rising from GH₵ 0.15 to GH₵ 0.31. ETI traded 1.79 million shares, accounting for 0.03 percent of market value traded, or approximately GH₵ 297,387.69.
While many stocks delivered significant gains, others posted mixed results:
– Access Bank Ghana (ACCESS) closed the year with a 52.94 percent gain, ending at GH₵ 5.20.
– Standard Chartered Bank (SCB) recorded a 31.05 percent increase, finishing at GH₵ 23.00.
– CAL Bank (CAL), however, saw a decline of 27.08 percent, closing at GH₵ 0.35, reflecting a challenging year for the institution.
– Top Gainer: Unilever Ghana Limited (140.44 percent).
– Largest Contributor to Market Value: ABSA NewGold ETF (48.65 percent).
– Overall GSE Composite Index Growth: +56.17 percent YTD.
– Financial Stock Index Growth: +25.20 percent YTD.
The outstanding performance of stocks such as Unilever Ghana, MTN Ghana, and ABSA NewGold reflects a rejuvenated market. Analysts anticipate further growth in 2025, buoyed by strong investor sentiment and improving economic indicators.
