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Ghana Stock Exchange Named Best Performing in Africa

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The Ghana Stock Exchange has been ranked as the best-performing stock market in Africa for 2024, and early data from the first quarter of 2025 shows it remains on the same trajectory, according to a high-level delegation from Ghana’s Securities and Exchange Commission (SEC).

The disclosure was made during a courtesy visit to Ghana’s Ambassador to the United States, Victor Emmanuel Smith, led by SEC Deputy Director-General Mensah Thompson.

The meeting, which took place in Washington, D.C., focused on the exchange’s remarkable performance, the role of the diaspora in national development, and the growing opportunities for investors eyeing Ghana’s economic recovery.

“The Ghana Stock Exchange was the best in Africa in 2024, and this year, even within the first quarter, the exchange remains the best performing in Africa,” Thompson told the Ambassador.

He attributed the strong performance to declining inflation, improving economic stability, and lower interest rates—conditions that have made Ghana’s capital markets increasingly attractive to investors seeking stronger returns than those available in more saturated markets.

Ambassador Calls for Diaspora and Foreign Capital

Ambassador Smith welcomed the news and used the platform to make a direct appeal to wealthy Ghanaians abroad and foreign investors. He argued that channelling diaspora resources and “American big pockets” back into Ghana would create jobs and reduce the economic pressure that drives many young Ghanaians to seek opportunities overseas.

“We can partner with some of these American big pockets and take advantage of the opportunities we are offering back home,” Smith said.

He revealed that his office, working alongside the Ghana Investment Promotion Centre (GIPC), is actively organising investor presentations and forums to showcase Ghana’s investment climate. He urged the SEC delegation to participate in all business engagements organised by the Embassy.

“My emphasis is on taking Ghanaians with you, encouraging those in the diaspora to invest and return home to help build the country,” he added.

Licensed Platforms and Investor Protection

Dorothy Yeboah-Asiamah, the SEC’s Head of International Relations, addressed the growing interest among Ghanaians abroad in investing in local securities. She urged potential investors to use only licensed and regulated platforms to protect their funds and strengthen overall market confidence.

“We have licensed brokers and investment schemes that allow people abroad to safely invest in securities in Ghana, and we want more members of the diaspora to take advantage of these opportunities,” she said.

The SEC delegation to Washington also included Peter McNamara (Policy Research Unit), Emmanuel Darko (Broker Dealers and Advisers), Richard Dusi (Head of Fintech and Innovation), and Marilyn Lamiokor-Mills (Board Secretariat).

The visit underscores Ghana’s aggressive push to position itself as a premier investment destination in Africa, leveraging its capital markets as a key pillar of economic transformation.

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US Eyes AI, Drones, and Rural 5G as Next Frontier in Ghana Partnership

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The United States is positioning emerging technologies including artificial intelligence, drone logistics, and rural 5G connectivity as the next frontier in its bilateral relationship with Ghana.

The move signals a strategic shift from traditional aid toward investment-driven partnership, Chargé d’Affaires Rolf Olson has announced.

Speaking at a celebratory event marking the 250th anniversary of American independence, Olson declared that the U.S.-Ghana relationship is entering a new phase defined by “not dependence, but resilience” and “a two-way exchange of investment, innovation, and expertise.”

Chargé d’Affaires Rolf Olson delivering remarks at the 250th Independence Day Celebration in Accra on June 10, 2026.

While acknowledging ongoing changes to the US foreign assistance framework, he emphasized that America remains the largest financial contributor to health emergencies across Africa — including $200 million to the current Ebola response — but pointed to commercial technology ventures as the model for future collaboration.

“As we greet this next phase of our partnership, we see enormous potential for U.S.-Ghana collaboration and commerce in emerging sectors – from digital technology to artificial intelligence, from advanced agriculture to cutting-edge energy techniques,” Olson told an audience of government officials, diplomats, and business leaders in Accra. “Ghana’s young innovators are positioned well to seize these types of opportunities.”

The Chargé d’Affaires highlighted concrete examples of technology-driven partnerships already underway.

He cited Zipline’s drone delivery network, which has completed 800,000 medical deliveries in Ghana since 2019, saving an estimated 10,000 lives, including 1,600 through emergency transport of snake anti-venom alone.

He also revealed US support for deploying “cutting-edge wireless technology at hundreds of base stations across Ghana,” aimed at expanding rural connectivity and bridging the digital divide across West Africa.

Olson framed the vision within a broader narrative of economic self-sufficiency, noting that more than 100 American companies are active in Ghana across energy, technology, and agriculture.

He pointed to Newmont, the single largest taxpayer in Ghana, where 99% of the workforce, including the Country Manager, is Ghanaian. Bilateral trade in goods and services reached approximately $4 billion last year, a figure Olson said “can grow.”

The diplomatic push comes alongside deepened security cooperation. Olson confirmed that just this week, US law enforcement handed over Sedina Tamakloe Attionu to Ghanaian authorities, fulfilling an extradition request, while Ghana has extradited multiple individuals wanted in the US for cyber-related fraud that has stolen tens of millions of dollars from American victims.

Reflecting on the historical ties that bind the two nations, from Richard Nixon meeting Martin Luther King Jr. in Accra in 1957 to Ghana being the first country to welcome Peace Corps volunteers in 1961, Olson concluded that the relationship is now mature enough to pivot toward technology, trade, and mutual resilience.

“Two hundred and fifty years into America’s independence and nearly 70 years into Ghana’s, we look to the future with optimism, confidence, and renewed purpose,” he said.

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How Ghana Is Selling Itself as Africa’s Factory Floor for Belarus

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President John Dramani Mahama has positioned Ghana as a manufacturing and distribution gateway for Belarusian industry, pitching the country as a strategic entry point to Africa’s unified market of 1.4 billion people under the African Continental Free Trade Area (AfCFTA).

Speaking at the maiden Ghana–Belarus Business Forum in Minsk, President Mahama announced that Belarusian manufacturers of mining equipment will visit Ghana next week, following an agreement between both nations.

The visit signals a potential shift in how Belarusian heavy industry could serve African markets – not merely through exports from Eastern Europe, but through locally established operations within Ghana.

“The investors who establish operations in Ghana gain access not only to a domestic market of 34 million people, but also to the wider African market through the AfCFTA,” President Mahama told the forum. He noted that the trade bloc covers 1.3 billion people with a combined gross domestic product of US$1.3 trillion.

The President’s pitch rests on three pillars: market access, infrastructure investment, and regulatory stability. He highlighted Ghana’s US$10 billion five-year Big Push Infrastructure Programme, which prioritizes roads, railways, ports, airports, energy systems, and logistics networks.

These investments, he said, are designed to improve connectivity, reduce business costs, and enhance competitiveness for firms that establish local manufacturing or assembly operations.

“Investors today seek certainty, stability, and market access, and I can assure you Ghana provides all these three,” Mahama stated. “Our political credentials are strong, our legal and regulatory systems are transparent, investor protection is robust, and we guarantee repatriation of profits.”

The President also noted that Belarusian companies possess relevant expertise in transport infrastructure, power systems, industrial parks, logistics, road construction, railway development, and renewable energy – all sectors where Ghana is actively seeking foreign partnership.

For Belarus, a nation under sustained Western sanctions, deepening economic ties with Ghana offers an alternative channel to participate in one of the world’s fastest-growing continental markets. Rather than exporting finished mining equipment from Minsk, Belarusian manufacturers could establish assembly plants or joint ventures in Ghana, taking advantage of AfCFTA rules to distribute across the continent without the tariff barriers that would apply to direct exports from Europe.

President Mahama framed the opportunity in unequivocal terms: “For businesses seeking a strategic gateway into Africa, Ghana remains one of the continent’s most attractive destinations.”

The upcoming visit by Belarusian manufacturers will test whether that pitch translates into concrete investment. Industry observers will be watching for announcements on local assembly facilities, technology transfer agreements, and the scale of Belarusian commitment to Ghana’s industrialization agenda.

If successful, the partnership could serve as a template for how other non-African manufacturing nations – particularly those from Eastern Europe and Asia – use Ghana as a beachhead to serve the continent’s rapidly growing demand for industrial equipment, infrastructure inputs, and heavy machinery. If not, the visit may produce little more than diplomatic communiqués.

For now, Ghana has made its case. The next move belongs to Belarus.

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Ghana’s Small-Scale Miners Now Produce Most of Its Gold

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For the first time in more than a century, small-scale miners have overtaken large-scale producers as Ghana’s primary source of gold, raising urgent questions about whether regulators can manage the environmental, social, and fiscal consequences of this historic shift.

According to the 2025 annual report released late Friday by the Ghana Chamber of Mines, the country’s total gold output rose by 23.41 percent to 5.94 million ounces, up from 4.82 million ounces in 2024.

The surge was driven almost entirely by the small-scale sector, which recorded a 63.82 percent increase in production – from 1.9 million ounces in 2024 to 3.11 million ounces in 2025.

As a result, small-scale mining now accounts for 52.4 percent of national gold output, overtaking large-scale producers for the first time in over a hundred years.

Michael Edem Akafia, the chamber’s outgoing president, presented the findings in Accra and attributed the performance to high output from small-scale operations. He projected that total gold production for 2026 could reach at least six million ounces, contingent on continued investment in the sector.

Ghana has long been one of Africa’s leading gold producers, with the precious metal remaining a critical pillar of the national economy.

However, the rapid ascent of small-scale mining presents a complex regulatory challenge. While the sector generates employment and foreign exchange, it has also been associated with environmental degradation, including water pollution from mercury use, deforestation, and damage to farmlands – a set of activities often linked to unlicensed operators known locally as galamsey.

Industry observers note that the production surge does not distinguish between licensed artisanal miners and informal operators. This ambiguity complicates efforts to track revenue, enforce environmental standards, and ensure that mining communities benefit from the wealth being extracted.

The Chamber of Mines has previously called for stricter monitoring of small-scale operations, as well as greater support for formalization.

Without effective regulation, analysts warn, the economic gains from the gold boom could be undercut by long-term environmental liabilities and lost state revenue from smuggling or under-declaration.

President John Dramani Mahama’s government now faces pressure to strike a delicate balance: encouraging the small-scale sector that has become the engine of gold growth while curbing the illegal and environmentally destructive practices that have long accompanied it.

The coming year will test whether Ghana’s regulatory framework can evolve as quickly as its mining landscape has changed. With output expected to climb further in 2026, the world is watching to see whether the country can turn a historic production milestone into sustainable and accountable prosperity.

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