The Ghana Stock Exchange (GSE) has become a significant player in attracting domestic and foreign investments, contributing to economic growth. Established in 1990, the GSE provides a platform for raising capital and promoting economic activities across various sectors. From 2022 to 2024, the performance of the exchange has reflected both global economic challenges and Ghana’s internal economic landscape.

In 2022, the GSE experienced a volatile year due to global inflationary pressures and the aftereffects of the COVID-19 pandemic. Trading volumes on the GSE saw a marginal decline, with a 5% drop in equity trading compared to the previous year. Foreign investor participation also slowed due to the global economic downturn. However, sectors such as banking and telecommunications continued to attract investments, contributing to a moderate performance in the overall market index. The GSE Composite Index ended 2022 with a year-to-date return of 5.28%.

In 2023, the Ghanaian economy faced growing inflation and currency depreciation, which impacted investor confidence in the stock market. The GSE Composite Index declined by 8.4% during the first half of the year as foreign investors reduced their exposure to local markets. Despite this, the GSE still attracted local investors looking to hedge against inflation, particularly in sectors such as energy and consumer goods. The government’s ongoing reforms and commitment to macroeconomic stability started to restore investor confidence towards the end of the year.