November has been a very eventful month for financial markets. Pressure from holders of Ghana’s foreign bonds drove the finance minister to present a budget with ambitious revenue targets highlighted by a proposed 1.75% tax on digital transactions. This budget was rejected by parliament sans majority MPs and then approved by parliament sans minority MPs in a series of parliamentary maneuvers which foreshadows future battles over legislation. In the midst of this uncertainty, the BoG also hiked the policy rate by 100bps to 14.50% signaling its commitment to bringing inflation back into the 6%-10% target band.

Stocks are now up 47.65% for the year and financial stocks are up 17.31% as at November 30, 2021. See how all stocks performed below.