See the best performing stocks on the Ghana Stock Exchange in 2025
The Ghana Stock Exchange (GSE) recorded one of its strongest performances in recent history in 2025, delivering exceptional returns to investors and marking a decisive recovery after a decade of subdued activity.
Data from the exchange show that the GSE Composite Index surged by 79.40 percent over the year, representing the highest calendar year return since 2004, when the market posted a 91.33 per cent gain.
The rally was largely driven by financial stocks, with the GSE Financial Index returning an impressive 95.19 percent, underscoring renewed confidence in the banking and insurance sectors.
Beyond the headline index performance, the real scale of the market’s resurgence became clearer when currency movements were taken into account. The Ghana cedi appreciated by about 40 percent against the US dollar in 2025.
As a result, investors who converted foreign currency into cedis to invest in equities and later repatriated their funds would have realised returns of roughly 150 percent in dollar terms, assuming they tracked the broader market.
Market capitalisation figures further highlight the strength of the recovery. At GH¢172 billion as at December 31, 2025, the total value of listed securities translated into about US$16.4 billion at the official interbank rate. This exceeded the US$15.2 billion recorded in 2015, effectively signalling that the bourse had clawed its way back after nearly a decade of decline.
At the individual stock level, several equities delivered extraordinary gains. Clydestone (Ghana) Limited emerged as the standout performer, posting a remarkable return of 1,433.3 percent to close the year at GH¢0.46 per share. SIC Insurance PLC followed with a 344.4 per centgain, while Ecobank Ghana Limited rose by 284.6 percent to GH¢25.00.
Other strong performers included GCB Bank Limited, which advanced by 215.7 percent, Access Bank Ghana with a 211.5 percent increase, and Total Petroleum Ghana Limited, which returned 207.2 per cent.
Societe Generale Ghana Limited also nearly tripled in value with a 199.3 per cent gain, while Cocoa Processing Company rose by 150 percent despite its low absolute share price.
In the non-banking space, Benso Oil Palm Plantation Limited recorded a solid 121.0 per cent return, Fan Milk Limited gained 116.2 percent, and Republic Bank rose by 97.0 per cent. Ghana Oil Company Limited and CAL Bank Limited also posted strong gains of 94.7 percent and 82.9 percent respectively, with CAL Bank standing out for its sharp 60 per cent rise in December alone.
Telecommunications giant MTN Ghana Limited closed the year with a 68.0 percent gain, reflecting steady investor interest in defensive and dividend-paying stocks. Enterprise Group Limited also performed well, rising by 75.8 percent, while Standard Chartered Bank Ghana Limited posted a more modest but positive return of 27.0 percent.
Not all stocks participated in the rally. A number of listed companies recorded flat performances with zero returns over the year, while Mega African Capital Limited was the only equity to end 2025 in negative territory, declining by 3.3 percent.
Overall, 2025 stands out as a landmark year for the Ghana Stock Exchange, characterised by strong price appreciation, renewed investor confidence and a rebound in market value. The breadth and depth of gains, particularly in financial stocks, have reinforced the GSE’s position as one of the best-performing equity markets globally over the period.
Full list of how stocks on the Ghana Stock Exchange performed in 2025;