President John Dramani Mahama has declared that Ghana is firmly back on the path of economic recovery and investor confidence, highlighting what he described as a remarkable resurgence of the country’s capital markets during an address at the London Stock Exchange (LSE).
Speaking before investors, financial institutions and market leaders, President Mahama said Ghana’s recent economic progress demonstrates that the country has moved beyond crisis management and is laying the foundation for sustainable growth.
“Ghana is open, Ghana is stable, and Ghana is growing,” the President stated.
Addressing one of the world’s oldest and most influential financial institutions, Mahama said Ghana’s place in global investment circles was now being defined by performance rather than promise.
“Ghana has earned its place in this room not on the strength of promise alone, but on the evidence of performance,” he told participants.
Economic Recovery Taking Hold
The President recalled the economic difficulties facing the country when he assumed office in January 2025, including high inflation, elevated interest rates, currency depreciation and a complex debt restructuring programme.
He said his administration had focused on restoring macroeconomic stability, rebuilding investor confidence and creating conditions for inclusive growth.
“The task before us was clear, to restore macroeconomic stability, rebuild investor confidence and create the conditions for inclusive and sustainable growth.”
According to Mahama, the government’s reform programme has begun yielding tangible results.
“Inflation has been brought under control, declining steadily from an elevated level of 54.1 percent in 2022 to a single digit of 3.4 percent currently,” he said.
He added that falling inflation, lower interest rates and a more stable cedi had helped restore confidence among businesses and investors.
“These are not merely statistics. They are structural foundations upon which our capital markets have been rebuilt.”
Ghana Stock Exchange Among World’s Best Performers
A major focus of the President’s address was the recent performance of the Ghana Stock Exchange (GSE), which he described as undergoing a “renaissance.”
Citing market data, Mahama noted that the GSE Composite Index had delivered one of the strongest performances globally.
“On May 15, 2026, Bloomberg reported that the GSE Composite Index had delivered a return of 63.4 percent, making it one of the world’s top-performing equity markets in 2026.”
He added that Ghana ranked among Africa’s best-performing stock exchanges, delivering impressive returns to international investors.
“In a world searching for yield in a global environment of uncertainty and elevated risk premia, Ghana’s equity market has delivered returns that rival and, in many cases, surpass the world’s most developed exchanges.”
The President said the equities market currently stands at approximately GHS263 billion, while the fixed-income market is valued at about GHS253 billion.
Revival of IPO Activity
Mahama also pointed to the revival of Ghana’s primary market, noting that after nearly seven years without a major initial public offering (IPO), three significant listings had either been completed or announced within six months. “That era, I can announce, is over,” he said.
The President highlighted the successful listings of Atlantic Bank PLC and Zen Petroleum Holdings PLC, both of which were oversubscribed, as well as the planned listing of Kasapreko PLC.
“Three IPOs, three oversubscriptions, three sectors, banking, energy and fast-moving consumer goods. This is not a coincidence. This is confidence.”
Together, the three transactions are expected to raise approximately GHS2 billion and add an estimated GHS11 billion in market capitalization to the exchange.
Opening Ghana’s Markets to Global Investors
President Mahama emphasized that international investors could participate in Ghana’s capital markets remotely through globally integrated trading systems and modern settlement infrastructure.
“The Ghana Stock Exchange has been built for international participation. You do not need to visit Ghana. You do not need physical presence. Investment is 100 percent remote.
He highlighted the availability of a broad range of investment products, including equities, exchange-traded funds, government securities, corporate bonds, commercial paper and green bonds.
Commitment to International Standards
The President underscored Ghana’s adherence to global market standards, citing the GSE’s membership in major international market organizations.
“We’re not asking to be let into the global financial community. We’re already in it, and we’re helping to lead it.”
He praised the leadership of the Ghana Stock Exchange, particularly Managing Director Abena Amoah, for strengthening the institution’s international reputation.
“The calibre of leadership at the Ghana Stock Exchange is not a domestic story. It’s a global one.”
State-Owned Enterprises to Be Listed
Looking ahead, Mahama announced plans to deepen Ghana’s capital markets through the listing of state-owned enterprises (SOEs) and additional financial institutions.
“Government is committed to advancing the listing of state-owned enterprises on the stock exchange.” He said the move would improve corporate governance, increase market liquidity and create new investment opportunities.
The President also revealed plans to develop diaspora-focused investment products and continue policy reforms aimed at improving investor returns.
“We’re committed to creating a policy environment where capital is welcomed, valued and rewarded.”
Ghana’s Growth Story
Concluding his address, President Mahama said Ghana’s economic recovery and capital market performance demonstrated the country’s readiness to attract long-term investment.
“Ghana has a story to tell, and it is a story that belongs on the floor of the London Stock Exchange.”
He cited the stock market’s strong returns, renewed IPO activity, a stable macroeconomic environment and Ghana’s democratic credentials as evidence that the country is well-positioned for its next phase of growth.
“A government that is committed to deepening the capital markets will finance Ghana’s next chapter of growth,” he said.
Story: Patrick Asford Boadu
