The latest news, company announcements, and market analysis from the Ghana Stock Exchange.
Guinness Ghana Breweries Plc has appointed Sandra Adu-Gyamfi as its new Corporate Relations Director and Company Secretary, succeeding Kelvin Boateng Koranteng. Adu-Gyamfi brings over 13 years of legal and governance experience, having previously served as the company's Assistant Legal Counsel.
The Ghana Stock Exchange closed October with gains in the benchmark GSE-CI, driven largely by strong performance and heavy trading in MTN Ghana. However, the financial stock index and several other counters experienced declines during the week.
MTN Ghana reported a robust 43% increase in profit after tax to GH¢7.8 billion for the first nine months of 2026, driven by strong growth in data, digital, and Mobile Money segments. The company also contributed GH¢9 billion in taxes to the state and declared an interim dividend of GH¢0.03 per share.
Standard Chartered Bank Ghana reported a 30.34% decline in group profit to GH¢354.26 million for the first nine months of 2026, alongside lower customer deposits and rising operating expenses. The weaker financial performance coincides with the parent company's ongoing exploration of a sale of its wealth and retail banking business in Ghana.
The Ghana Stock Exchange closed October with GH¢8.64 million in trades, driven heavily by MTN Ghana and Enterprise Group. The session showed mixed results with gains in telecommunications and insurance stocks, contrasted by a notable decline in GCB Bank.
Ecobank Ghana reported a 4.33% decline in group profit after tax for the first nine months of 2026, as weaker interest income and rising personnel costs offset a significant 34.71% expansion in its loan book. Despite the profit dip, the bank strengthened its capital position, improved its capital adequacy ratio to 18.19%, and saw its non-performing loan ratio decline to 14.99%.
Fan Milk Plc reported an exceptional performance for the first nine months of 2026, driven by a 30.17% increase in revenue and a dramatic expansion in gross and operating margins that fueled a 308.87% surge in profit after tax. The company also strengthened its balance sheet significantly, amassing GH¢566.21 million in cash and generating robust operating cash flows. However, analysts note that rising operating and finance costs warrant monitoring to ensure the sustainability of these strong earnings.
Scancom Plc (MTN Ghana) posted a 3.53% share price increase and dominated the Ghana Stock Exchange weekly trading, accounting for over 80% of total market turnover. Despite the company's strong performance lifting the GSE Composite Index, broader market breadth remained weak as 12 stocks declined.
MTN Ghana is finalizing its 5G license acquisition for US$202 million, which is already accounted for in its free cash flow and does not impact its 2026 dividend outlook. The company believes this significant investment in 700 MHz and 3 GHz spectrum bands will enhance network quality, support Ghana's digital connectivity, and drive data and home broadband growth.
MTN Ghana reported strong financial results for the first half of 2026, featuring a 46.8% increase in profit after tax and a 44.4% rise in Mobile Money transaction values. The company also announced plans to invest US$1.1 billion over three years to expand network infrastructure and enhance digital services.
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