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GSE records year-to-date return of 44 77 %
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GSE Composite Index posts 41 3% YTD return for investors
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Ghana Markets Regulator Says Local Stocks May Add to 30% Gains
Moses Mozart Dzawu, Bloomberg News Vehicles travel along a road in Accra, Ghana, on Tuesday, Oct. 23, 2020. Ghana is missing out on a rally of African bonds as investors fret about an expansion in spending and borrowing ahead of elections in December. Photographer: Cristina Aldehuela/Bloomberg , Bloomberg
(Bloomberg) Ghana stocks may extend gains in 2021 of more than 30%, snapping three years of declines, as falling returns in the local fixed-income market draw investors to equities, according to an official from the markets regulator.
Stocks are set to be the biggest beneficiaries of the drop of 130 basis points in benchmark 91-day Treasury bill rates since the year started, coupled with a dearth of initial public offerings or fresh corporate debt sales, Jacob Aidoo, head of issuers at Ghanaâs Securities and Exchange Commission, said in an interview.
Ghana Stocks May Snap Losing Run With Banks, Oil in Demand
Bloomberg 2/10/2021 Moses Mozart Dzawu
(Bloomberg) Ghana’s stocks may snap three years of declines in 2021 as an improving economy and a more stable cedi attract foreign investors, according to Ecobank Development Corp., which expects local bank and oil-company shares to be in demand.
The benchmark Ghana Stock Exchange Composite Index of 31 shares is set to gain as much as 15% this year, Nene Lomo Nartey, head of trading and sales at EDC, said in a telephone interview from Accra. © Bloomberg Ghana Rebound?
“Foreign demand began returning in the last quarter and we think that will be sustained by the government’s commitment to get Covid-19 vaccines, which raises the prospects for economic recovery,” Nartey said. The cedi’s depreciation against the dollar in 2020 was the slowest in 14 years and government and central bank efforts to extend this positive momentum are likely to continue,