Investor optimism and strategic corporate moves are fueling a new era of growth for the Ghana Stock Exchange (GSE), which has emerged as the top-performing securities market in West Africa in the first quarter of 2025. The GSE’s impressive rally — over 30% growth in its index and a 70% year-on-year surge in market capitalization — has set a benchmark for regional peers and signaled a resurgence in market confidence.
GSE Managing Director, Abena Amoah, credited the strong performance to renewed investor trust and heightened trading activity across both the equities and fixed income markets. She made these remarks during the latest edition of the Exchange’s “Facts Behind the Figures” series, which featured Ghanaian beverage giant Kasapreko PLC.
“With our index up over 30% and financial stocks climbing 33%, the GSE has outpaced all markets in West Africa this year,” Madam Amoah said. “Our market capitalization has grown to over GHS 143 billion — a 70% increase over the same period last year — and we’re seeing signs that this momentum will carry us beyond just regional leadership.”
The Fixed Income Market is also experiencing notable growth, with volumes rising to GHS 87 billion — up 53% from the GHS 57 billion recorded by the same time in 2024. Despite the gains, Madam Amoah noted that more work needs to be done to deepen market participation and align capitalization with the country’s GDP.
Kasapreko Prepares to Join GSE’s Main Equity Market
A key highlight of the GSE event was the announcement by Kasapreko PLC of its plans to list 25% of its equity shares on the GSE’s main market by the end of 2025. The move represents a bold step by the local beverage manufacturer to attract more shareholders and scale operations across the African continent.
Kasapreko CEO, Richard Adjei, shared the news during the company’s presentation, stating that the firm’s board had already given the green light for the listing. “We believe it’s time to bring in more investors to support our next phase of expansion,” he said. “Listing on the bond market was a major milestone, but listing equities on the main market gives us access to even broader capital and strengthens our transparency.”
Since joining the Fixed Income Market, Kasapreko has posted strong growth. The company reported a 45% year-on-year jump in 2024 revenue, reaching GHS 2.7 billion, driven by strong local demand and increasing export sales.
Mr. Adjei praised the GSE and other stakeholders for their role in the company’s capital market journey. “This would not have been possible without the Exchange pushing us, and we’re grateful to our arrangers and investors for their continued belief in our vision.”
As the GSE eyes continental dominance and companies like Kasapreko leverage its platform for expansion, Ghana’s capital markets appear poised for a transformative year — one marked by deepened investor engagement, increased listings, and stronger links between finance and real sector growth.
