GSE composite index up 63% this year as Fan Milk, Unilever profits soar

The Ghana Stock Exchange's main index has surged 63.1 percent this year, reaching 14,303.4 points as of last week. The increase was propelled by strong profits from listed companies, particularly Fan Milk and Unilever Ghana, whose earnings quadrupled and rose by 205.4 percent, respectively. Telecom, banking, and consumer stocks were the main drivers behind the index's growth, despite a nine-to-three win-loss ratio, as gains in heavily weighted stocks lifted the overall performance.

GCB Bank led the gainers with a 4.6 percent increase, while Société Générale Ghana suffered the most significant loss, falling by 7.4 percent. The bank's shares have more than doubled since the end of 2025, with its third-quarter profit growing by 39 percent to GH¢629.11 million. The index had previously reached an all-time high of 15,908.77 on March 18, 2026, but was trading about 10 percent below this peak at the end of the week.

Smaller stocks, such as Clydestone and Cocoa Processing Company, saw impressive gains, with their shares increasing by 769.6 percent and 460 percent, respectively. Only two main-market shares were down for the year: Atlantic Lithium by 13.4 percent and TotalEnergies Marketing Ghana by 12.4 percent. Overall, the market was valued at GH¢270.3 billion at the end of September, up 57.1 percent since January, with trading volume surging by 74.7 percent.