Business News of 2014-01-08

GSE is best performing market in Africa

The Ghana Stock Exchange ended the year as the best performing stock market on the African continent in dollar terms last year.

That’s according to Databank Research which captured the performance of 15 stock markets in Africa.

It however placed second to the Malawi Stock Exchange in terms of the local currency.

The Accra Bourse retuned 56.14 and 78.81 percent profit respectively to investors in dollar and Cedi terms.

The Malawi Stock Exchange on the other hand returned 56.08 and 108 percent growth to investors.

Managing Director of the Ghana Stock Exchange, Kofi Yamoah earlier told XYZ BUSINESS the market will continue its sterling performance this year.

The Nigeria and BVRM Stock Exchanges came third and fourth with returns of 47 and 39 percent respectively.

Meanwhile, PZ Cussons was the best performing stock on the Ghana Stock Exchange last year. It returned 338 percent profit to investors who invested in the company from January 1 till December 31, 2013.

It began the year at 18 pesewas per share but ended at 79 pesewas per share. Enterprise Group, CAL, Mechanical Lloyd and Guinness Ghana Breweries were the other best five performing stocks on the Accra Bourse last year.

They all ended the year with a growth rate of 291, 155, 153 and 136 percent respectively.

Tullow Oil, African Champions Industries, formerly Super Paper Products Limited, Transaction Solutions and Ayrton Drugs were some of the listed equities that posted losses in value in 2013