Ghana’s stock market has emerged as one of the best-performing equity markets in the world in 2026, with the GSE Composite Index delivering a return of 63.4 percent, placing it second only to South Korea among all exchanges globally, according to data reported by Bloomberg on May 15, 2026.
President John Dramani Mahama disclosed the figures while addressing investors at the London Stock Exchange, where he made the case that Ghana’s capital markets had undergone a genuine renaissance and were now delivering returns that rivalled and in many cases surpassed those of some of the world’s most developed exchanges.
“Let that sink in for a moment. In a world searching for yield amid uncertainty and elevated risk premiums, Ghana’s equity market has delivered returns that rival, and in many cases surpass, those of some of the world’s most developed exchanges,” he said.
On the African continent, Ghana ranked second among all exchanges, recording a United States dollar return of 154 percent and a local currency return of 79 percent in 2025, figures that put the market’s performance in a league of its own across the region.
The President said the performance was not accidental but was built on structural foundations laid through disciplined macroeconomic reform. Inflation had been brought down from a peak of 54.1 percent in 2022 to a single-digit rate of 3.4 percent.
Interest rates had followed, with the Bank of Ghana implementing a calibrated monetary easing cycle that reduced the cost of capital and unlocked credit for investment. The cedi had stabilised, and international reserves had strengthened.
The equities market on the Ghana Stock Exchange is now valued at GHS 263 billion, complemented by a fixed income market worth GHS 253 billion, together representing what Mahama called a deep and liquid marketplace for capital deployment across growth assets and income securities.
He said the government was committed to deepening the market further, including through the listing of state-owned enterprises, the development of new financial instruments including derivatives and asset-backed securities, and the pursuit of capital gains tax and withholding tax waivers to improve after-tax returns for investors.
President Mahama also praised the leadership of GSE Chief Executive Abena Amoah, saying her work had contributed directly to the exchange’s turnaround and that her standing on international bodies, including the ICMA Board and the African Securities Exchanges Association, made her leadership a global story rather than a domestic one.
Richard Aniagyei, ISD
