The Ghana Stock Exchange (GSE) could end 2026 with a return of about 81%, with the final figure expected to fall between 76% and 86%.

The projection, contained in Databank’s second-half market outlook, reflects growing confidence in listed companies following strong earnings, easing inflation and renewed interest in previously undervalued stocks.

Financial shares are expected to remain among the market’s leading performers. Banks continue to show strong profitability, healthy capital positions and improving asset quality. Greater clarity around dividend payments could also attract more investors to the sector during the final months of the year.

MTN Ghana is another company expected to maintain its strong position on the market. Continued investment in network infrastructure, data services, mobile financial services and enterprise solutions should support further earnings growth. Its consistent dividend record and relatively stable earnings could also sustain demand for the stock.

Consumer stocks set to support growth

Companies in the fast-moving consumer goods sector are likely to play an important role in the market’s performance during the second half of 2026.

Capacity expansion, improved efficiency and growing market share could strengthen the earnings of Kasapreko, Fan Milk, Unilever Ghana and Guinness Ghana Breweries.

Benso Oil Palm Plantation may also benefit from stable crude palm oil prices, improved extraction rates and tighter cost controls.

Positive outlook for oil marketing companies

Oil marketing companies could provide additional opportunities for investors as higher crude oil prices and better marketing margins support earnings.

TotalEnergies Ghana remains attractive to investors seeking stable income, while GOIL could benefit from stronger operating performance. ZEN Petroleum is also viewed as a company with promising long-term growth potential.

GAX companies attract attention

Interest is also growing in selected companies on the Ghana Alternative Market. Improving financial performance and stronger business fundamentals are drawing investors towards smaller domestic businesses with considerable growth potential.

The broader outlook remains positive, although the market’s year-end performance will depend on whether companies maintain their earnings momentum and inflation continues to ease.

By the end of August 2026, the Ghana Stock Exchange had outperformed 13 other African stock markets, making it the continent’s best-performing exchange among the 14 markets assessed.

Databank has been retained once because the 81% forecast originates from its report. Removing the attribution while keeping the forecast would incorrectly present the research as your publication’s own.