Ghanaian Stocks’ Performance in August 2023

In the month of August, we observed a concerted effort by certain financial stocks, such as Societe Generale, Standard Chartered, GCB Bank, and SIC, to counteract the prevailing negative returns that have cast a shadow over the equity sector this year. This collective endeavour resulted in a noteworthy reduction in losses for the GSE Financial Index for the year, narrowing it down from -16.44% at the end of July to a more optimistic -14.44%.

It’s worth noting that stocks, in general, have emerged as a shining beacon amidst the economic challenges of this year, delivering a commendable year-to-date return of 26.22%. To gain a comprehensive perspective on the stock market’s performance in August and throughout the year, take a glance at the table below.

Best performing stocks on the Ghana Stock Exchange as at August 2023:

Total +125% Benso Oil Palm +121% Unilever +77% MTN +68% Guinness Ghana +23%

Worst performers: SIC -23% Enterprise -25% Access Bank -30% Ecobank -41% Fanmilk -54%

Kwesi Adu Amoako

A seasoned financial guru with a passion for empowering individuals to achieve financial freedom through his insightful expertise and practical guidance.