These 10 Companies Have Delivered the Highest Returns on the Ghana Stock Exchange in 2024 So Far
Publisher December 26, 2024 0
As the year draws to a close, investors on the Ghana Stock Exchange (GSE) are reflecting on the standout performers that delivered remarkable returns in 2024. With the market showing resilience and growth, certain companies have emerged as clear leaders, providing their shareholders with impressive returns. Based on percentage changes in stock prices, the following 10 companies have been the best performers on the GSE as of December 20, 2024.
1. UNIL – 121.82% Growth
Unilever Ghana Plc (UNIL) has been the top performer of the year, with its stock price skyrocketing by an impressive 121.82%. The stock price surged from GH₵8.11 to GH₵17.99, positioning UNIL as the best-performing stock on the GSE so far in 2024. This substantial growth highlights the company’s strong market presence and investor confidence in its performance.
2. ETI – 106.67% Growth
Ecobank Transnational Incorporated (ETI) also had an outstanding year, with its stock price more than doubling. Starting at GH₵0.15, the stock price increased to GH₵0.31, reflecting a 106.67% growth. This remarkable rise underscores ETI’s positive performance and its ability to deliver strong returns for investors.
3. GCB – 86.76% Growth
GCB Bank Plc (GCB) experienced significant growth in 2024, with its stock price climbing from GH₵3.40 to GH₵6.35, marking an 86.76% increase. As one of the leading financial institutions in Ghana, GCB has demonstrated strong financial health and resilience, which has translated into impressive returns for its investors this year.
4. GLD – 83.52% Growth
The NewGold Exchange Traded Fund (ETF) (GLD) was another standout performer in 2024. Its stock price increased by 83.52%, rising from GH₵218.50 to GH₵401.00. The GLD’s solid performance reflects the increasing investor appetite for gold and gold-backed assets, as well as the fund’s ability to provide substantial returns in a volatile market.
5. MTNGH – 75.00% Growth
MTN Ghana (MTNGH), a dominant player in the telecommunications sector, continued its strong performance in 2024, with its stock price rising from GH₵1.40 to GH₵2.45. This 75.00% growth solidifies MTN Ghana’s position as a key player in the market, with the company continuing to see solid demand for its services and strong investor confidence.
6. GGBL – 50.00% Growth
Guinness Ghana Breweries Limited (GGBL) saw its stock price surge by 50.00%, from GH₵3.40 to GH₵5.10. This solid growth highlights the company’s strong brand presence and resilience in the competitive beverage sector. GGBL’s performance in 2024 underscores its ability to continue to deliver value to investors despite market challenges.
7. TOTAL – 45.78% Growth
TotalEnergies Marketing Ghana Plc (TOTAL) also posted solid returns in 2024, with its stock price increasing by 45.78%, from GH₵9.00 to GH₵13.12. The energy sector, often impacted by global oil prices, has shown strong potential, and TOTAL’s performance is a testament to the company’s capacity to capitalize on favorable market conditions and deliver solid returns for its shareholders.
8. CMLT – 40.00% Growth
Camelot Ghana Ltd (CMLT) had a strong year, with its stock price rising by 40.00%. The stock price increased from GH₵0.10 to GH₵0.14, showcasing Camelot’s steady growth and increasing investor interest. This performance signals potential for future gains, as the company continues to expand its footprint in the Ghanaian market.
9. ACCESS – 39.71% Growth
Access Bank Ghana Plc (ACCESS) has continued its upward trajectory, with its stock price growing by 39.71%, from GH₵3.40 to GH₵4.75. The bank’s solid performance in 2024 is a reflection of its strong customer base, strategic expansion, and sound financial management, which have helped build investor confidence.
10. RBGH – 37.50% Growth
Republic Bank Ghana (RBGH) rounded out the top 10 performers with a 37.50% increase in its stock price, rising from GH₵0.48 to GH₵0.66. While the growth was not as dramatic as some other companies, RBGH’s performance remains solid, reflecting its ongoing strength in the banking sector and ability to provide consistent returns.
Overall Market Performance
The overall performance of the GSE in 2024 has been positive, with the GSE Composite Index registering a Year-to-Date (YTD) growth of 53.67%. Additionally, the Financial Stock Index saw a notable rise of 24.64%. These gains reflect strong investor confidence in the Ghanaian market, which has demonstrated resilience in the face of both local and global economic challenges.
The exceptional performances of these 10 companies stand as a testament to the strength and potential of the Ghana Stock Exchange. As we move into 2025, these companies have set a high bar for growth and excellence, offering valuable lessons for investors and market analysts alike. Their ability to deliver exceptional returns highlights the continued attractiveness of the GSE as a hub for investment opportunities in West Africa.