The weak performance of the Ghana cedi to the dollar as well as inflation impacted negatively on the Ghana Stock Exchange (GSE), as the Accra Bourse lost about ¢748 million in market capitalization in 2022.
The GSE market capitalization stood at ¢64.49 billion in December 31, 2021, but ended 2022 at ¢63.74 billion.
In cedi term, it lost -12.37% return for investors. But it recorded -27.4% return for investors in dollar term at the end of December 2022.
Comparing the market performance within two years (2021 and 2022), the GSE recorded 27.55% gain.
The 2022 performance was far behind the 2021 achievement where it was the second-best-performing stock market in Africa.
The capital market suffered in 2022 from the difficult economic environment.
For the Financial Stock Index, the market recorded -4.61% for investors.
15 stocks lost value in 2022
Meanwhile, 15 stocks lost value in 2022, compared with eight gainers.
The biggest loser was Unilever Ghana which lost 34.13% in stock value to sell at ¢3.88 per share.
Some other losers were PBC (-33.33%), CAL (-25.29%), Fanmilk (-25%) and GCB (-24.81%). They traded at 2 pesewas, 65 pesewas, ¢3 and ¢3.94 per share respectively.
The biggest gainer in 2022 was, however, SIC insurance (287.50%), ending the year with a stock price of 31 pesewas per share.
Other gainers were Trust Bank Gambia (135.29%), Access (27.30%) and BOPP (7.65%).