In August 2024, Guinness Ghana Breweries Ltd. was the top gainer on the Ghana Stock Exchange (GSE), posting a significant 9.8% increase in share price to GH¢5.16. On the other hand, CAL Bank Limited experienced the largest decline, dropping 8.82% in August, bringing its share price down to GH¢0.31.
Overall Market Performance:
As of August 30, 2024, the Ghana Stock Exchange’s composite index is up 39.28% year-to-date, reflecting a robust performance across various sectors. Financial stocks are up 11.8% year-to-date, highlighting lasting challenges arising from the domestic debt restructuring carried out in 2023.
Top 3 Gainers:
- Guinness Ghana Breweries Ltd. emerged as the top performer in August, with a strong gain of 9.8%. This growth continues to boost its already impressive year-to-date performance, bringing its full-year return to 51.8%.
- Camelot Ghana Ltd. also saw a notable increase, with its shares rising by 9.1%. The shares of the West African printing giant are up 20.0% this year.
- Benso Oil Palm Plantation Ltd. rounded out the top three gainers with an 8.7% increase in its share price. The company has maintained steady growth, leading to a full-year return of 13.6%.
Top 2 Losers:
- CAL Bank Limited led the laggards with a substantial 8.82% decline in August, making it the top loser for the month. The bank’s share price dipped to GH¢0.31, marking a challenging period, with a full-year return of -35.42%.
- MTN Ghana Ltd. also saw a decline, with its share price dropping by 5.98% in August. Despite this, the telecom giant has had a strong year overall, with a full-year return of 57.14%.
See how all stocks performed below.
| Equity | Share Price (GH¢) | August Returns | Full Year Returns |
| Guinness Ghana Breweries Ltd. | 5.16 | 9.8% | 51.8% |
| Camelot Ghana Ltd | 0.12 | 9.1% | 20.0% |
| Benso Oil Palm Plantation Ltd | 25 | 8.7% | 13.6% |
| Unilever Ghana Limited | 16 | 8.3% | 97.3% |
| Enterprise Group Limited | 1.65 | 6.5% | -31.0% |
| Republic Bank | 0.55 | 5.8% | 14.6% |
| NewGold Issuer Limited | 382.6 | 5.5% | 75.1% |
| GCB Bank Limited | 5.91 | 5.5% | 73.8% |
| Atlantic Lithium Ltd | 6.15 | 2.5% | 39.8% |
| Trust Bank Limited (THE GAMBIA) | 0.83 | 1.2% | 1.2% |
| Total Petroleum Ghana Ltd | 12.4 | 0.6% | 37.8% |
| AngloGold Ashanti Limited | 0.41 | 0.0% | 0.0% |
| Access Bank Ghana | 4.8 | 0.0% | 41.2% |
| Agricultural Development Bank | 5.06 | 0.0% | 0.0% |
| AngloGold Ashanti Limited | 37 | 0.0% | 0.0% |
| Aluworks LTD | 0.1 | 0.0% | 0.0% |
| Asante Gold Corp | 8.89 | 0.0% | 0.0% |
| CAL Bank Preference Shares | 0.29 | 0.0% | 0.0% |
| Clydestone (Ghana) Limited | 0.03 | 0.0% | 0.0% |
| Cocoa Processing Company | 0.02 | 0.0% | 0.0% |
| DASPHARMA | 0.38 | 0.0% | -5.0% |
| Digicut | 0.09 | 0.0% | 0.0% |
| Ecobank Ghana Ltd | 6.1 | 0.0% | 10.9% |
| Ecobank Transnational Incorporation | 0.15 | 0.0% | 0.0% |
| Fan Milk Limited | 3.5 | 0.0% | 7.7% |
| Ghana Oil Company Limited | 1.5 | 0.0% | 0.0% |
| HORDS LTD | 0.1 | 0.0% | 0.0% |
| Intravenous Infusions (IIL) | 0.05 | 0.0% | 0.0% |
| Mega African Capital Limited | 5.38 | 0.0% | 0.0% |
| Meridian-Marshalls Holdings | 0.1 | 0.0% | -9.1% |
| Produce Buying Company Ltd. | 0.02 | 0.0% | 0.0% |
| Samba Foods Ltd | 0.55 | 0.0% | 0.0% |
| Standard Chartered Bank Ghana Ltd. | 20.1 | 0.0% | 14.5% |
| Standard Chartered Bank Ghana Ltd – Preference Shares | 0.9 | 0.0% | 0.0% |
| SIC Insurance Company Limited | 0.25 | 0.0% | 4.2% |
| Societe Generale Ghana Limited | 1.55 | 0.0% | -1.3% |
| Tullow Oil Plc | 11.92 | 0.0% | 0.0% |
| MTN Ghana Ltd | 2.2 | -6.0% | 57.1% |
| CAL Bank Limited | 0.31 | -8.8% | -35.4% |