The Ghana Stock Exchange (GSE) is expected to achieve another remarkable performance in 2025, according to predictions from Data Bank research.

In 2024, the market yielded a return of 26.13 per cent for investors in dollar terms. However, in cedi terms, the Accra Bourse ranked as the second-best per­forming market on the continent.

A notable rally occurred in the latter half of 2024, with MTN Ghana continuing to be a pre­ferred choice among investors due to its consistently strong financial results.

“We expect the ongoing rally in equities to continue into 2025, driven by more favourable market conditions and continued recov­ery in corporate earnings. From a technical viewpoint, we forecast the GSE Composite Index to close 2025 at 6,850 points, mark­ing an annual gain of 45 per cent (±500 basis points). We expect this performance to be broad-based across the various sectors, particularly banking, telecommuni­cations, and fast-moving consum­er goods (FMCG) sectors,” the report revealed.

It mentioned that it expected the FMCG sector to continue recovering, with Unilever Ghana, Fan Milk, and Guinness Ghana

breweries leading the charge, supported by stronger earnings growth and a more favourable operating environment.

“While Fan Milk’s stock is to do better in 2025 on improved earnings outlook, Guinness Ghana Breweries Limited would build on the 2024 financial results, fueled by price hike, thereby enhancing dividend prospects, attracting income-focused investors, and supporting strong stock perfor­mance in 2025," it explained

TotalEnergies Ghana is also poised for earnings growth amidst market challenges.

The report said, “We remain optimistic about the earnings out­look for Total, with an expected upside of 18 per cent.”

This positive outlook, the report indicated, was driven by the company’s aggressive strategies, including product renovation, advertising, and quality enhance­ment, all aimed at improving customer experience in light of an anticipated recovery in the mining sector.

“In the short term, we expect increased demand for oil fuel products driven by election-related activities. However, the OPEC+ announcement of crude oil production cuts could pose near-term challenges for Oil Marketing Companies,” it noted.

MTN Ghana is also likely to be Top Investment Choice for 2025 with strong earnings growth and dividend potential.

“We continue to favour MTN Ghana’s a strong pick for 2025. We believe MTNGH offers combination of growth poten­tial and reliable income through dividends, making it an attractive option for both growth-focused and income-seeking investors,” it explained.

Since listing in 2018 to date, the telecom giant has generated an average dividend yield of 12 per cent, fueled by robust growth in net profit.

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