GSE is worst performing stock market in Africa; suffers from cedi depreciation

October 4, 2022

The weak performance of the Ghana to the impacted negatively on the , as the Bourse was the worst performing stock exchange on the African continent in dollar term, in the nine months of 2022.

It recorded -39% return for investors in dollar terms as of September 30, 2022. However, in cedi term, it registered -11.80% return for investors.

This performance is far from last year's achievement where it was the second best performing stock market in Africa.

In dollar terms, the GSE placed 15th out of 15 top stock exchanges in Africa. In cedi's term, its position was 11th.

The capital market has so far this year not been left out of the challenging economic environment.

It was hit severely by the rapid depreciation of the cedi and the rising inflation in the first half of this year, and the situation continues unabated.

For the Financial Stock Index, the market has recorded -3.80% for investors, so far in 2022.

Also, total market capitalization at the end of September 2022 stood at ¢63.9 billion, compared with ¢64.49 billion on December 31, 2022.

Meanwhile, 15 stocks had lost value since January 1, 2022, compared with seven gainers.

SIC Insurance is the biggest gainer, recording a 312% gain in value since January 2022. It is presently selling at 33 pesewas per share.

follows closely, registering 27.30% gain in value, selling at ¢4.10 per share.  

Meanwhile, licensed buying cocoa firm, PBC, was the biggest loser shedding 33% in value. It is selling at 2 pesewas per share.

GSE records -24.1% return in dollar term for investors in first-half of 2022

The GSE ended the first half of 2022 with a negative year-to-date return of 24.13% in dollar term.

This placed the country 12th out of the 15 top stock exchanges on the African continent.

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