The Ghana Stock Exchange placed 10th in dollar terms among 15 stock markets in Africa in 2023.

It recorded a return of -5.66 percent for investors.

But for the about 15% depreciation of the cedi to the dollar, the Accra Bourse will have been classified among the top-performing stock markets in Africa in 2023.

In local currency terms, the GSE however placed 5th with a 28.0.8% return for investors.

The performance of the market is coming on the back of the International Monetary Fund programme which brought some renewed investor confidence.

According to data, the non-banking stocks led the gains in the equity market.

The Financial Stock Index however registered a return of -7.36 percent. This was a result of the second part of the Domestic Debt Exchange Programme which had impacted the earnings of some banks.

The best-performing stocks were BOPP (187.58%), TotalEnergies (125.00%), Unilever (109.2%), Guinness Ghana Breweries Limited (68.85%) and MTN Ghana (59.09%).

The worst-performing stocks were however CalBank (-26.15%), Enterprise Group (-25.31), SIC (-22.58%), Ecobank Ghana (-17.17%) and Access Bank (-15.21%).

Meanwhile, Egypt EGX (35.39%) was the best-performing stock market on the African continent in 2023.

It was followed by Morocco MASI (17.71%) and Ivory Coast BVRM (10.89%) in 2nd and 3rd respectively.

The worst-performing stock market was Kenya NSE with a year-to-date return of -43.06%.