Ghana Stocks Extend Strong Gains as Trading Activity Surges in August

 

Ghana’s equity market maintained its strong performance in August, with the benchmark GSE Composite Index gaining 71.90% year to date as trading activity continued to accelerate.

The GSE Financial Stock Index also recorded a strong 70.09% year-to-date return, reflecting broad gains across the equity market.

The Ghana Stock Exchange recorded 133,867 transactions during the month, representing a 323.86% increase compared with the same period last year.

Trading volumes and values also increased compared with August 2025. The exchange recorded 50.99 million shares traded during the month, valued at GH¢210.73 million. This represented an 11.10% increase in volume and a 3.48% rise in value compared with the same period last year.

For the first eight months of 2026, cumulative trading volume reached 953.33 million shares, with a total value of GH¢4.78 billion. The figures represent increases of 71.76% in volume and 66.62% in value compared with the corresponding period in 2025.

Sharp gains among selected stocks

Several listed companies recorded significant price gains during August.

Dannex Ayrton Starwin PLC was the biggest gainer, rising 313.6%, followed by Digicut Production & Advertising PLC, which gained 211.1%. Hords PLC rose 125.6%, while Unilever Ghana PLC gained 35.6%.

Other notable gainers included Clydestone (Ghana) PLC, up 25.9%; Cocoa Processing Co. PLC, 17.6%; Meridian Marshalls Holding Company, 9.1%; ZEN Petroleum Holdings PLC, 8.9%; and TotalEnergies Marketing Ghana PLC, 3.9%.

The month also saw declines in several counters. Enterprise Group PLC recorded the largest fall, dropping 33.1%, followed by Atlantic Lithium Ltd. with a 15.2% decline and Societe Generale Ghana PLC, which fell 12.1%.

Fixed income market doubles trading

Activity on the Ghana Fixed Income Market also strengthened sharply during August.

The market recorded GH¢48.99 billion in trading volume, representing a 104.77% increase over the same period last year. Government notes and bonds accounted for 52.77% of the month’s volume, while Treasury bills contributed 45.98%. Corporate bonds accounted for 1.25%.

Cumulative fixed-income trading volume for January to August reached GH¢304.77 billion, more than double the GH¢152.07 billion recorded during the same period in 2025. Trading value also increased by 116.17% to GH¢276.80 billion.

The month’s fixed-income activity was also 40.48% higher than July, indicating continued momentum in the market.

Petrosol breaks new ground

August also marked an important development in Ghana’s corporate debt market, with Petrosol Platinum Energy PLC becoming the first oil marketing company in Ghana to list a corporate bond on the Ghana Fixed Income Market.

The listing was made under the company’s GH¢200 million Note Issuance Programme.

The development comes as the GSE seeks to deepen Ghana’s capital markets and improve companies’ access to longer-term financing.

GSE Managing Director Abena Amoah, speaking at Fidelity Bank Ghana’s Debt Capital Market Conference during the month, called for stronger efforts to build a debt market capable of supporting productive businesses and infrastructure while widening access to long-term capital.

GSE strengthens sustainability reporting

The exchange also launched an updated Sustainability Disclosure Guidance Manual in August in collaboration with the Global Reporting Initiative and other partners.

The new manual replaces the 2022 ESG Guidance Manual and has been enhanced to reflect the requirements of IFRS S1 and IFRS S2, bringing Ghana’s sustainability reporting framework closer to evolving global standards and local regulatory expectations.

The August performance therefore points to continued expansion in both equity and fixed-income activity, alongside efforts by the Ghana Stock Exchange to broaden the range of financing instruments available to businesses and strengthen market standards.