Here are the top 10 richest individuals on the Ghana Stock Exchange

The Ghana Stock Exchange has witnessed tremendous growth this year. As of September 2023, the GSE's all-share index had risen to 30.75%.

The upside has led to significant returns for both investors and the GSE alike.

According to billionaires.africa.com, "this surge has translated into substantial returns for investors and shareholders and propelled the total market capitalization of listed companies to a significant GH₵74 billion ($6.2 billion)."

There are several individuals whose stocks have grown on the stock exchange amidst the current economic turmoil.

Billionaires.africa.com has compiled a list of the top 10 richest individuals on the GSE. It said the ranking relies on data from S&P Global Market Intelligence and publicly available documents and disclosures. Share valuations were determined based on closing prices on November 9, with conversions to U.S. dollars executed using prevailing exchange rates.

1. Daniel Ofori

Portfolio value on GSE: $13.5 million

Holdings: GCB Bank, Calbank, Societe Generale Ghana PLC, SIC Insurance

Daniel Ofori retains his regal status as the wealthiest investor on the Ghana Stock Exchange. Commanding a 7.49-percent stake in GCB Bank, a 3.9-percent equity interest in Calbank, a 5.91-percent stake in SIC Insurance valued at $233,095, and a 6.78-percent stake in Societe Generale, Ofori stands as a top figure in Ghanaian financial services industry.

2. Patrick Kingsley-Nyinah

Portfolio value on GSE: $2.3 million

Holdings: GOIL Plc, Mega African Capital

Patrick Kingsley-Nyinah, a Ghanaian serial investor, owns a 3.24-percent stake in Ghana Oil Company (GOIL), a state-owned oil and gas marketing company and the country’s only indigenous petroleum marketing firm. He also owns 2.97 percent of Mega African Capital, a company engaged in developing, purchasing, selling, and renting real estate.

3. Oscar Yao Doe

Portfolio value on GSE: $1.12 million

Holdings: Agricultural Bank of Ghana

Oscar Yao Doe, the president of Doscar Group Holdings and chairman of Eurostar Global Limousine, claims the podium as the third-richest investor on the Ghana Stock Exchange. His 0.75-percentage ownership position in Agricultural Development Bank, a universal bank that provides a full range of financial products and services in retail, commercial, corporate, and investment banking, is worth $1.12 million.

4. Ebenezer Asante

Portfolio value on GSE: $0.92 million

Holdings: MTN Ghana

Ebenezer Asante, the pioneer Ghanaian CEO of MTN’s operations in the country, commands the spotlight as the largest individual shareholder in the telecom giant. He has a beneficial 0.65-percent stake in the company, currently worth $0.92 million.

5. Cofie Kodjo

Portfolio value on GSE: $0.89 million

Holdings: Agricultural Bank of Ghana

Cofie Kodjo, a leading figure in the country’s business scene, owns a 0.61-percent stake in Agricultural Development Bank Plc, worth $0.89 million.

6. Frank Adu

Portfolio value on GSE: $0.72 million

Holdings: CalBank

Frank Adu is a former managing director of CAL Bank. He still owns a 2.7-percent interest in CalBank worth $0.72 million.

7. Paa Kwesi Nduom

Portfolio value on GSE: $0.64 million

Holdings: Digicut Production & Advertising
Ghanaian business mogul Paa Kwesi Nduom owns 71.26 percent of Digicut Production & Advertising, a full-service advertising agency, and public relations consultancy company. The shares worth $0.64 million are held in his name, his Ndoum Group, and Nduom Foundation.

8. Edward Kojo Anim-Addo

Portfolio value on GSE: $0.56 million

Holdings: Standard Chartered Bank Ghana, Benso Oil

Kojo Anim-Addo, a GSE investor, has a 0.25-percent stake in Standard Chartered Ghana and a small shareholding in Benso Oil.

9. Anthony Oteng-Gyasi

Portfolio value on GSE: $0.48 million

Holdings: Mega African Capital, Benso Oil, Enterprise Group

Tony Oteng-Gyasi is a successful business leader best known for establishing Tropical Cable and Conductor Ltd., a leading manufacturer of electrical cables in Ghana. His portfolio on the GSE includes a 0.59-percent stake in insurance company Enterprise Group Plc, 0.4 percent in Benso Oil, and 1.15 percent in Mega African Capital.

10. Joseph Agyepong

Portfolio value on GSE: $0.43 million

Holdings: Access Bank Ghana

Joseph Agyepong, one of Ghana’s most popular business tycoons, is the largest individual shareholder in the publicly listed Ghanaian subsidiary of Nigerian financial services group Access Holdings. He owns 0.86 percent of Access Bank Ghana. The shares are worth $0.43 million

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