Year in Review: The 10 richest individuals on the Ghana Stock Exchange in 2023

The year 2023 has been a mixed bag for many investors in Ghana, from economic headwinds coupled with soaring inflationary pressures, exchange rate instability and among other factors, it is fair to say that most investors had quite the year.

On the Ghana Stock Exchange, some individuals made significant gains despite the challenges as their valuation of shares were determined by the prices recorded at the close of trading as of June 26, 2023.

The valuations which were complied by Billionaires.Africa were sourced from data provided by S&P Global Market Intelligence, as well as publicly available documents and disclosures.

The valuation of these high earners were however converted to U.S. dollars at the prevailing exchange rates.

GhanaWeb Business in this article takes a look at the top 10 individuals with the highest stock ownership positions listed on the Ghana Stock Exchange.

See the list compiled by Billionaires.Africa below:

1. Daniel Ofori

Net worth on the GSE: $9.3-million

Holdings: GCB Bank, Calbank, Societe Generale Ghana PLC, SIC Insurance

Daniel Ofori remains the wealthiest investor on the Ghana Stock Exchange. He currently owns a 7.49-percent stake in GCB bank; a 3.9-percent stake in Calbank; a 5.91-percent shareholding in SIC Insurance worth $235,811, and 6.78-percent in Societe General Ghana.

2. Patrick Kingsley-Nyinah

Net worth on the GSE: $1.97-million

Holdings: GOIL Plc, Mega African Capital

Patrick Kingsley-Nyinah, a Ghanaian serial investor, owns a 3.24-percent stake in Ghana Oil Company (GOIL), a state-owned oil and gas marketing company and the country’s only indigenous petroleum marketing firm. He also owns 2.97 percent of Mega African Capital, a company engaged in developing, purchasing, selling, and renting real estate.

3. Oscar Yao Doe

Net worth on the GSE: $1.16-million

Holdings: Agricultural Bank of Ghana

Oscar Yao Doe, the president and executive chairman of Doscar Group Holdings and the chairman of the luxury car rental firm Eurostar Global Limousine, is the third-richest investor on the Ghana Stock Exchange. His 0.75-percentage ownership position in Agricultural Development Bank, a universal bank that provides a full range of financial products and services in retail, commercial, corporate, and investment banking, is worth $ 1.16 million.

4. Cofie Kodjo

Net worth on the GSE: $925,780

Holdings: Agricultural Bank of Ghana

Cofie Kodjo owns 0.61 percent of Agricultural Development Bank Plc, worth $925,780.

5. Frank Adu

Net worth on the GSE: $890,845

Holdings: CalBank

Frank Adu is a former Managing Director of CAL Bank. He still owns a 2.7% interest in CalBank worth $890,845.

6. Ebenezer Asante

Net worth on the GSE: $864,643

Holdings: MTN Ghana

Ebenezer Asante, the first Ghanaian CEO of MTN’s operations in the country, is the largest individual shareholder in the telecom giant. He has a beneficial 0.65-percent stake in the company, currently worth $864,643.

7. Paa Kwesi Nduom

Net worth on the GSE: $666,823

Holdings: Digicut Production & Advertising

Ghanaian business mogul Paa Kwesi Nduom owns 71.26% of Digicut Production & Advertising, a full-service advertising agency, and public relations consultancy company. The shares worth $666,823 are held in his name, his Ndoum Group, and Nduom Foundation.

8. Joseph Agyepong

Net worth on the GSE: $524,026

Holdings: Access Bank Ghana

Joseph Agyepong, one of Ghana’s most popular business tycoons, is the largest shareholder in the publicly listed Ghanaian subsidiary of Nigerian financial services group Access Holdings. He owns 0.86 percent of Access Bank Ghana. The shares are worth $524,026.

9. Anthony Oteng-Gyasi

Net worth on the GSE: $438,102

Holdings: Mega African Capital, Benso Oil, Enterprise Group

Tony Oteng-Gyasi is a successful business leader best known for establishing Tropical Cable and Conductor Ltd, a leading manufacturer of electrical cables in Ghana. He’s also among the most prominent investors in the Ghana stock market. His portfolio on the GSE includes a 0.59% stake in insurance company Enterprise Group PLC, 0.4% in Benso Oil, and 1.15% in Mega African Capital.

10. Edward Kojo Anim-Addo

Net worth on the GSE: $426,557

Holdings: Standard Chartered Bank Ghana, Benso Oil

Kojo Anim-Addo, a GSE investor, has a 0.25-percent stake in Standard Chartered Ghana and a small shareholding in Benso Oil.

With additional files from Billionaires.Africa

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