Business & Markets · Stock market capitalisation · Ghana
Ghana’s stock market capitalisation rose to 14.4% of GDP in 2025.
14.4% of GDP
2025
Up 5.3 pp from 2024.
Updated 8 Oct 2026
In plain words
14.4% of GDP
What it is. Stock market capitalisation adds up the market value of every listed domestic company, which is share price multiplied by shares in issue, and divides it by GDP. The ratio moves with share prices as well as with the number of firms on the exchange, so a rally lifts it even when the economy is unchanged. Companies that are unlisted, including most small and family businesses, sit outside the measure.
Higher is better. A higher ratio means the exchange holds more of the country's business value, which gives firms a wider base for raising equity and gives savers more to invest in. At 14.4% of GDP in January 2025, the figure is up 5.3 percentage points from 9.1% of GDP a year earlier. Since 2009 the low was 7.7% of GDP in January 2023 and the high was 14.6% of GDP in January 2019. The latest reading therefore sits just under the top of its range, after a recovery from the 2023 low.
Why it matters. Listed companies in Ghana are now worth 14.4% of GDP, so share ownership offers households a larger local place to hold savings. Firms with a listing can look to investors for funds as an alternative to bank loans. The 2019 high of 14.6% of GDP is the level to check next, to see whether the recovery carries past it.
| Period | Stock market capitalisation · Ghana |
|---|---|
| 2009 | 9.3% of GDP |
| 2010 | 9.2% of GDP |
| 2011 | 7.9% of GDP |
| 2019 | 14.6% of GDP |
| 2020 | 13.2% of GDP |
| 2021 | 13.2% of GDP |
| 2022 | 8.7% of GDP |
| 2023 | 7.7% of GDP |
| 2024 | 9.1% of GDP |
| 2025 | 14.4% of GDP |
Source: World Bank, World Development Indicators (CC BY 4.0) · Licence: CC BY 4.0
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Strata-AF™ Data, Stock market capitalisation, Ghana, 2025; source World Bank, World Development Indicators (CC BY 4.0), retrieved 8 Oct 2026; https://data.strata-af.com/business/stock-market-capitalisation/ghana
Data insights · Worked out from the published figures
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Working this out from the published figures…
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Methodology
Market capitalisation of listed domestic companies as a share of GDP. Unit: % of GDP.
Source: World Bank, World Development Indicators (series CM.MKT.LCAP.GD.ZS), retrieved through the World Bank API and published under CC BY 4.0. Updated annually; the World Bank's own source notes apply.