COVID-19: Report shows that Ghana’s stock market dropped by 17% in 6 months
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COVID-19: Report shows that Ghana’s stock market dropped by 17% in 6 months

- The outbreak of COVID-19 has led to a 17% fall in 6 months in Ghana's stock market

- The manufacturing, trade, and investment sectors of various countries have experienced the impact of the pandemic

- There have, however, been some gains as over 260 million shares, valued at GHc194 million, were traded in from January to July

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Information available to YEN.com.gh shows that Ghana’s stock market experienced a 17% fall in 6 months due to the outbreak of the coronavirus.

The pandemic, which has claimed more than 500 000 lives around the world, has led to the collapse of business and economies worldwide.

It has also exposed the weaknesses in global health systems and led to unexpected consequences.

COVID-19: Report shows that Ghana’s stock market dropped by 17% in 6 months

Ekow Afedzie, Managing Director of the GSE Source: Ghana Talks Business
Source: UGC

READ ALSO: Almost 50 million people in Africa could endure extreme poverty - AfDB

The effects of the pandemic have cut across manufacturing, trade, and investment in countries all around the world.

Per a report by citibusinessnews.com, there have been major shifts on stock exchanges such as the Dow Jones Industrial Average, the Nikkei, and Ghana’s own local bourse.

YEN.com.gh understands that the composite index (GSE CI), which reflects the average performance of shares of listed companies, witnessed a significant drop of about 17% from January to early June of 2020.

The composite index, however, witnessed a drop of about 8% within the same period in 2019.

The market, nonetheless, recorded significant trading activities as over 260 million shares, valued at GHc194 million, were traded in the first six months of 2020.

This represents a 107.9% growth in volume and an 87.7% growth in trade when compared to the same period in 2019.

In other news, YEN.com.gh has learned that the total number of infections resulting from the outbreak of COVID-19 in Africa has grown past 500 000.

Concerns have been raised about the sharp increases in the number of cases on the continent.

Information available shows that in less than five months an estimated 11 959 people have lost their lives to the novel coronavirus.

READ ALSO: COVID-19: Cases exceed 500v000 across Africa - Report

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Source: Yen

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