Ghana’s stock market took a step back last week, with share prices falling as the amount of money changing hands on the exchange dropped sharply from the previous week.
The Ghana Stock Exchange’s main index, which tracks the overall performance of listed companies, fell 1.6% between August 3 and 7. At the same time, the value of shares traded fell from about GH¢169 million to GH¢58 million, a drop of nearly two-thirds.
The decline in activity came against the backdrop of a strong year for Ghanaian stocks. The market remains up more than 65% since the beginning of 2026, meaning the latest weekly fall has done little to erase the gains built up over the year.
Trading during the week was dominated by MTN Ghana, which alone accounted for about GH¢39 million of the GH¢58 million worth of shares traded.
The telecom company was the most actively traded stock during the week, although its share price also fell by about 2%. Despite the weekly decline, MTN Ghana remains more than 60% higher than it was at the start of the year.
The concentration of trading around MTN Ghana was particularly notable because the technology and communications sector accounted for more than two-thirds of all trading value on the exchange during the week.
Elsewhere on the market, some smaller companies recorded much larger price swings.
HORDS was the biggest gainer, with its share price rising by 41% during the week. DasPharma and Zenith Bank also recorded gains, while IIL suffered the biggest decline, falling nearly 37%.
The sharp movements come as some of these stocks continue to post extraordinary gains for the year. IIL, despite its latest weekly fall, is still up more than ninefold since the beginning of 2026, while CLYD and HORDS have also recorded gains of more than four times their levels at the start of the year.
The latest week therefore marked a clear slowdown in trading compared with the previous week, but the broader performance of Ghana’s stock market remains firmly positive.
