Unilever Ghana Leads GSE Surge with 140.44% Growth in 2024

The Ghana Stock Exchange (GSE) ended 2024 on a high note, with the Composite Index rising by 56.17 percent Year-To-Date (YTD) and the Financial Stock Index increasing by 25.20 percent YTD. These figures highlight a year marked by investor confidence and market recovery.

Unilever Ghana Limited (UNIL) emerged as the top performer, with its share price soaring by 140.44 percent, from GH₵ 8.11 to GH₵ 19.50. UNIL traded 586,268 shares, accounting for 0.19 percent of the total market volume and contributing 0.90 percent to the market’s total value, equivalent to GH₵ 9.55 million.

The ABSA NewGold ETF (GLD), a gold-backed security, also posted strong gains, with its share price increasing by 78.72 percent, from GH₵ 218.50 to GH₵ 390.50, driven by robust global gold prices. GLD represented 48.65 percent of the market’s total value traded, amounting to GH₵ 513.98 million.

Telecom and Banking Sector Highlights

MTN Ghana (MTNGH) maintained its dominance, with its share price increasing by 78.57 percent, closing at GH₵ 2.50 from GH₵ 1.40. The telecom giant traded 234.5 million shares, contributing 40.89 percent of the market’s total value, equivalent to GH₵ 431.99 million.

In the banking sector, GCB Bank (GCB) showed strong performance, with its share price rising by 87.35 percent, closing at GH₵ 6.37. GCB traded 2.47 million shares, contributing 1.27 percent of the market’s total value, amounting to GH₵ 13.37 million. Ecobank Transnational Incorporated (ETI) also posted a 106.67 percent gain, with its share price increasing from GH₵ 0.15 to GH₵ 0.31, trading 1.79 million shares and contributing approximately GH₵ 297,387.69 in market value.

Mixed Results for Other Stocks

– Access Bank Ghana (ACCESS) saw a 52.94 percent gain, ending at GH₵ 5.20.

– Standard Chartered Bank (SCB) recorded a 31.05 percent increase, finishing at GH₵ 23.00.

– CAL Bank (CAL) experienced a decline of 27.08 percent, closing at GH₵ 0.35.

Key Market Statistics

– Top Gainer: Unilever Ghana Limited (140.44 percent).

– Largest Contributor to Market Value: ABSA NewGold ETF (48.65 percent).

– Overall GSE Composite Index Growth: +56.17 percent YTD.

– Financial Stock Index Growth: +25.20 percent YTD.

The strong performance of stocks like Unilever Ghana, MTN Ghana, and ABSA NewGold reflects a rejuvenated market. Analysts predict continued growth in 2025, supported by robust investor sentiment and improving economic indicators.