In August this year, Ghanaian multimillionaire businessman Daniel Ofori witnessed a remarkable increase in the value of his stake in Societe Generale Ghana, according to a billionaires.africa report.

Below is the full story first published on August 26, 2023 by GhanaWeb

Ghanaian multimillionaire businessman Daniel Ofori has witnessed a remarkable increase in the value of his stake in Societe Generale Ghana, according to a billionaires.africa report.

Over the past 53 days, his stake's market value has surged by over $1.3 million due to a significant rise in the bank's shares on the Ghana stock exchange.

The portal noted that Ofori's stake in Societe Generale Ghana had previously suffered a decline of $2.41 million between January 1 and June 28. During this period, the value of his shares fell from $4.88 million to $2.47 million.

As the richest investor on the Ghana Stock Exchange, Ofori owns a beneficial 6.8% ownership stake, equivalent to 48,241,241 ordinary shares, in Societe Generale Ghana. This makes him the bank's largest individual shareholder.

Since June 28, the shares of Societe Generale Ghana on the stock exchange have surged by 52.54%, increasing from GH¢0.59 ($0.0524) to GH¢0.90 ($0.0800), leading to gains for shareholders, including Daniel Ofori. This increase has raised the market value of Ofori's stake by $1.33 million over the past 53 days, from $2.52 million on June 28 to $3.85 million on August 20.

With this substantial bump in his stake's market value, Ofori retains his position as the richest investor on the Ghana Stock Exchange and remains one of Ghana's most prosperous businessmen.

In addition to his stake in Societe Generale Ghana, Ofori holds investments in Ghana Commercial Bank, Fan Milk Plc, and CAL Bank, all of which are publicly listed on the Ghana Stock Exchange.

ID/MA

This story was initially published on August 26, 2023. It is being reproduced as part of GhanaWeb's Year-in-Retrospect files as we wrap up the year.

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