Accra,, Ghana//-Ghana Stock Exchange (GSE) has ended the year 2025 with very good performance as the Equity Market closed the year with the GSE Composite Index reaching 8,770.25 points with a return of 79.40%, the highest since 2004.
The Financial Stock Index ended the year with 4,647.17 points, returning 95.19%, and recording its highest return since its introduction in 2011.
Trade values increased by 73.75% to GHS3.74 billion compared to the previous year. The top ten gainers for the year were Clydestone (GH) PLC (1,433.33%); SIC Insurance Company PLC (344.44%); Ecobank Ghana PLC (284.62%); GCB Bank PLC (215.70%); Access Bank Ghana PLC (211.54%); TotalEnergies Marketing Ghana PLC (207.16%); Societe Generale Ghana PLC (199.33%); Cocoa Processing Co. PLC (150.00%); Ecobank Transnational Inc. (148.39%) and Benso Oil Palm Plantation PLC (120.98%).
The only loser on the market was Mega African Capital PLC (-3.35%). The year-to-date total traded volume on the Ghana Fixed Income Market reached a record 245.8 billion, marking a strong 41.29% increase over the 174 billion recorded in the same period last year, exceeding the pre-DDEP volume of 230 billion in 2022.
Treasury Bills accounted for 25.14% of the total volume traded, while Government Notes and Bonds contributed 69.12%, with Corporate Bonds making up the remaining 5.73%.
Equities
The cumulative trade in 2025 amounted to 771.57 million shares, valued at GHS 3.74 billion, marking a 22.24% decline in volume but an impressive 73.75% growth in value compared to last year. Market capitalisation rose by 54.50% from GHS111.35 billion at the end of 2024 to GHS172 billion by the close of December 2025.
Highlights for the Year
Ghana Stock Exchange (GSE), in collaboration with pension fund managers, bankers, stockbrokers, fund managers and other stakeholders, embarked on a field visit to Accra Compost and Recycling Plant subsidiary of the Jospong Group of Companies on April 3, 2025, to assess their operations and investment potential.
GSE, in collaboration with the International Capital Market Association (ICMA), organised the inaugural West Africa Bond Market Conference on April 10, 2025, bringing together regional and international capital market players.
On April 15, 2025, the GSE paid a courtesy call on H.E. John Dramani Mahama to brief him on the Exchange’s initiatives in facilitating access to capital and investment opportunities.
The discussions focused on the potential for the private sector and State-Owned-Enterprises to raise capital on the Exchange to expand their business operations, improve transparency and corporate governance practices.
On April 17, 2025, Federated Commodities PLC (FEDCO) became the first issuer of Commercial Paper on the Ghana Fixed Income Market, raising GHS 72.77 million at a coupon rate of 19.43%.
The Management of GSE on April 23, 2025, paid a courtesy call on the Acting Director General of the State Interest Governance and Authority, Professor Michael Kpessa-Whyte and his executive team to strengthen partnerships between the two entities to discuss SOE capital raising and listing on the Exchange.
On June 12, 2025, the Ghana Stock Exchange hosted His Excellency Lincoln G. Downer, High Commissioner of Jamaica to Ghana, Nigeria, and Rwanda, on a courtesy call aimed at deepening collaboration between our two markets.
Ghana Stock Exchange (GSE) organised a training session for its media partners, the Institute of Financial and Economic Journalists (IFEJ), on August 22, 2025, under the theme “Demystifying Corporate Disclosures: Telling Powerful Stories from Corporate Announcements.”
The Ghana Stock Exchange, in collaboration with the Ghana Securities Industry Association (GSIA) and the Securities and Exchange Commission (SEC), featured “Time with the Capital Market” on the Joy Business Master Class for four consecutive weeks in September to discuss opportunities in the capital market. On 16th September 2025,
The Ghana Stock Exchange (GSE) donated computers and refurbished the ICT Centre of the Dzorwulu Special School as part of its commitment to promote inclusive education and enhance the digital skills of the students.
The staff of GSE also donated groceries and bottled water to support the welfare of the students. On October 23, 2025, Absa Bank Ghana and GSE co-hosted a capacity-building workshop on Debt Capital Market Opportunities and Financing Platforms.
The Exchange celebrated the 10h Anniversary of Ghana Fixed Income Market (GFIM) on Wednesday, 12th November 2025, under the theme “10 Years of the Ghana Fixed Income Market – Deepening Markets, Expanding Possibilities.” the event marked a decade of growth, resilience, and innovation in our fixed income market.
GSE commissioned a Borehole and Water Purifier project at La Enobal Basic School in Accra on 26th November 2025, as part of GFIM’s 10th Anniversary celebration, to provide clean water for over 550 students.
The Young Investors Network, in collaboration with the Ghana Stock Exchange, Central Securities Depository and other partners, organised the National Youth Investment Educational Campaign, reaching out to 209 schools and 215,000 students across Ghana.
It was climaxed with the National Investment Quiz, which saw St. Augustine’s College from Cape Coast winning the competition. On December 11, 2025, a ceremony was held at the GSE to commemorate the successful raising and listing of additional shares worth GHS 900 million by CalBank PLC, through a Rights Issue on the Exchange.
First Atlantic Bank PLC officially listed on the GSE on December 19, 2025, following a successful Initial Public Offering (IPO), raising GHS786 million. This was the first IPO on GSE since the last one by MTN Ghana in 2018, ending the 7-year IPO drought.
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