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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

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GSE likely to record first positive yearly return since 2017 – Analyst

byBobbie Osei
July 5, 2021
in Banking And Finance, Economy, Local Economy, Markets, News, Top Stories
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A continuous easing of COVID-19 related restrictions will see the Ghana Stock Exchange (GSE) ending the year 2021 on a positive note, the first time since 2017. That’s according to the General Manager of UMB Stockbrokers, Ben Ackah.

For the past decade, the Ghana Stock Exchange Composite index (GSE-CI) which reflects the average performance of shares of all listed companies on the local bourse recorded mixed returns.

Average returns for investors in the last 3 years alone have all been negative, with 2018, 2019 and 2020 all returning -0.29%, -12.25% and -13.98% respectively. In 2017 however, the GSE-CI posted a resounding 52.73% yearly return to investors in Cedi terms.

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Renewed confidence in Ghana’s equities market so far this year, following the relative success in the handling of the COVID-19 pandemic as well as a strengthening of the economy, has onlookers and analysts optimistic about the stock exchange once again returning to its bullish ways.

According to General Manager of UMB Stockbrokers, Ben Ackah, poor performance of government securities coupled with strong performance of listed companies is increasing confidence in the GSE.

“I think what has generally driven the market is the performance of some stocks on the market. MTN in particular has done almost about 80% return for the market from the beginning of the year till now, and that kind of return has driven a lot of investors to that stock and the GSE in general. Also, you will notice that the returns on Government of Ghana securities have been trending downwards. With investors looking for alternatives away from the bonds and fixed income markets, they end up looking at the equities market.”

The capitalization of the stock exchange also improved significantly in the first half of 2021 when compared to the same period last year.

It started this year valued at GHS54.4 billion and ended June valued at GHS61.3 billion, representing a growth of 12.7%.

Mr. Ackah says the trend is likely to continue if the pandemic is kept under control and if the easing of restrictions continues.

“With the continued easing of restrictions, the economy continuing to recover from where we were last year, I think there will be a lot more interest in the stock market because of the deliverables we are seeing. I expect the market to end on a positive note at the end of the year, that is where we even are right now. The market is a good place to invest your money if you know exactly what you are putting it into,” he added.

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