Ghana Stock Exchange Among World’s Best Performers – Abena Amoah
Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, has disclosed that the Exchange has recorded one of the strongest performances globally in 2025, reflecting growing investor confidence and improving macroeconomic conditions.
Speaking at the 14th Ghana Economic Forum (GEF) held in Accra on Wednesday, October 29, 2025, under the theme “Currency Stability – A Reset for Sustainable Economic Growth,” Ms Amoah revealed that the GSE Composite Index has surged by over 70% in cedi terms and about 90% in US dollar terms so far this year.
“So far this year, the GSE’s Composite Index, which measures the performance of the market, is up over 70% in Ghana cedi terms and about 90% in US dollar terms, making us probably one of the best-performing markets in the entire world so far this year,” she stated.
She explained that the strong performance of the equities market has been complemented by increased activity on the Ghana Fixed Income Market (GFIM), which has seen trading volumes double compared to last year.
“We also run the Ghana Fixed Income Market, and we are seeing a doubling of volumes traded on that market. Another signal we are seeing is that the pipeline of companies interested in sourcing financing using the GSE is growing and getting stronger,” she said.
Highlighting efforts to diversify Ghana’s capital market, Ms Amoah noted that the Exchange recently launched a Commercial Paper Market to help businesses raise short-term debt capital efficiently.
“We had our first issuance on that market this year. Federated Commodities, a licensed buying cocoa company, raised funds on our market at 17% for 150 days, at a time when equivalent working capital financing elsewhere was around 27%,” she revealed.
According to her, this development demonstrates the potential of the capital market to provide cheaper and more efficient financing alternatives for businesses.
Ms Amoah also pointed out that Ghana’s pension fund industry, with an accumulated asset base of over GHS 100 billion, presents a substantial pool of long-term capital that can be channelled through the GSE to support private sector growth.
“Today on our markets, we have pension funds that have 100 billion Ghana cedis contributed by industry and government in terms of tier one, tier two, and tier three long-term capital savings, which is available as capital,” she said.
While expressing optimism about the economy and the investment climate, Ms Amoah cautioned that the outlook remains one of “cautious optimism,” as more companies must be encouraged to list and raise capital through the market to deepen Ghana’s financial ecosystem.
Her remarks underscore the GSE’s growing role in supporting Ghana’s economic recovery by mobilising domestic savings, expanding access to finance, and promoting investor confidence amid improving macroeconomic indicators.
