The Ghana Stock Exchange was the best performing stock market on the African continent in the first half of the year, recording a staggering 36.13%in dollar term for investors.
This is coming after a poor performance last year.
The Accra Bourse also recorded 36.16% return in cedi term for investors. This was far above its peers on the continent.
At the end of June this year, the market capitalization stood at ¢61.3 billion.
The cedi’s strong performance has also compelled investors to shift their interest to the stock market because they will accrue more return than investing in the dollar.
Instructively, equity funds have been recording some impressive returns.
In all, 12 companies appreciated in value as compared to six losers at the end of June this year.
MTN Ghana maintained its impressive run as the biggest gainer on the Ghana Stock Exchange, recording about 87% return for shareholders. It is presently trading at 1.20 pesewas, far above its listing price. Other stocks that impressed during the first half of the year were Guinness Ghana Breweries (43.3%), Societe Generale (43.75%) and GCB Bank (33.33%).
Some losers were Ecobank Transnational Incorporated (-25%) and Access Bank (-20.50%).
On the continent, the Lusaka Stock Exchange was 2nd with a return of 18% for investors in dollar term, whilst the Uganda Stock Exchange was 3rd.