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Stock Market: The Ghana Stock Exchange records an increase of 56% in local currency in 2024

07/01/2025
Source : ORISHAS FINANCE
Categories: Index/Markets

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The Ghana Stock Exchange set a 10-year record in 2024 (+56%), which is the second best performance in the world. The stock market promises to continue this momentum in 2025.

The Ghana Stock Exchange recorded an increase of 56% in local currency in 2024. This performance makes it the second best financial center in the world, behind Cyprus (+58%). The progress of the Ghana Stock Exchange is the result of an economic recovery supported by a $3 billion rescue package from the International Monetary Fund (IMF), the debt restructuring agreement and the election of John Mahama as president

.

The Ghana Stock Exchange Composite Index took advantage of this context to record its best performance in a decade. Also, the banking sector, telecommunications and natural resources supported this dynamic, while the recovery of the CEDI, which appreciated by 7.6% in the last quarter of 2024, also contributed to reassuring

foreign investors.

In reality, after this period of economic crisis, the country saw its gross domestic product (GDP) grow by 6.3% on average over the first three quarters of 2024, compared to 2.6% a year earlier, according to official data. This rebound was fostered by the IMF program, which made it possible to stabilize public finances and relaunch economic activity

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