Top 10 Most Traded Stocks on the Ghana Stock Exchange in October 2025

The Ghana Stock Exchange (GSE) continues to demonstrate resilience and renewed investor interest as the capital market stabilizes amid broader macroeconomic recovery. October 2025 trading data reveal that investor confidence—once dampened by inflationary pressures and exchange rate volatility—is gradually rebounding, driven by improved fiscal discipline, lower inflation, and strong corporate performance across multiple sectors.

Recent trading activity shows that investors are gravitating toward high-liquidity stocks, particularly in telecommunications, banking, insurance, and energy. These companies have shown consistent earnings, dividend payouts, and strong fundamentals, making them attractive to both institutional and retail investors seeking medium to long-term gains.

Below, The High Street Business spotlight the Top 10 Most Traded Stocks on the Ghana Stock Exchange (GSE) in October 2025, drawing on market reports, broker analyses, and exchange data.

1. MTN Ghana Plc (MTNGH)

The undisputed heavyweight on the Ghana Stock Exchange, MTN Ghana continues to dominate trading activity, accounting for the largest share of volume and value traded. Over the past three months, MTNGH has recorded more than 136 million shares traded, valued at approximately GHS 515 million, according to data compiled by the African Financials Exchange (AFX).

MTN’s sustained leadership reflects its position as Ghana’s most valuable listed company, with a strong dividend history and growth outlook supported by data services, fintech expansion, and mobile money integration. Investors view MTN as a stable, high-liquidity stock that offers long-term capital appreciation potential.

2. GCB Bank Plc (GCB)

GCB Bank remains one of the most actively traded banking equities on the GSE, buoyed by strong fundamentals and renewed investor interest in the financial sector. In recent trading sessions, GCB accounted for over 1 million shares traded, representing a market value exceeding GHS 10 million.

The bank’s consistent profitability, digital transformation drive, and attractive dividend yield continue to position it as a go-to stock for institutional investors. Analysts say GCB’s performance also reflects market optimism about the recovery of Ghana’s banking sector after years of balance sheet restructuring and regulatory reforms.

3. SIC Insurance Company Plc (SIC)

Among insurance equities, SIC Insurance has maintained steady investor attention, trading over 100,000 shares in recent sessions. The company’s improved claims management increased gross written premiums, and strategic partnerships within the insurance value chain have all contributed to its rising appeal.

SIC’s stock remains relatively low-priced compared to its peers, making it a volume driver for retail investors seeking exposure to the financial services sector at affordable entry points.

4. Ecobank Ghana Plc (EGH)

Ecobank Ghana continues to post solid trading volumes, with recent reports indicating 87,000+ shares traded within active sessions. The pan-African bank’s strong cross-border presence, high liquidity ratios, and consistent profitability have made it a staple on many institutional portfolios.

EGH’s focus on digital innovation and trade finance has allowed it to leverage Ghana’s growing role as a regional financial hub. Analysts note that the bank’s regional footprint and corporate banking dominance make it a strategic asset for investors seeking diversification.

5. CalBank Plc (CAL)

Another banking sector favourite, CalBank Plc, remains a consistent performer in the mid-cap segment of the market. CalBank traded over 60,000 shares in recent sessions, reflecting sustained interest from both local and foreign investors.

The bank’s rebranding efforts, fintech collaborations, and focus on SME lending are enhancing its market visibility. CalBank’s relatively low valuation compared to peers also makes it an attractive option for investors anticipating long-term capital gains.

6. Societe Generale Ghana Plc (SOGEGH)

Societe Generale Ghana has shown increased trading activity, with nearly 12,000 shares exchanged in recent sessions. The stock remains a solid dividend payer, supported by a stable balance sheet and strong corporate banking operations.

SOGEGH’s affiliation with the global Societe Generale Group continues to instill investor confidence, offering exposure to both domestic and international market trends. Analysts expect trading volumes to rise further as the GSE deepens liquidity through technology-driven platforms.

7. TotalEnergies Marketing Ghana Plc (TOTAL)

The energy sector remains a bright spot on the GSE, with TotalEnergies Ghana ranking as the 10th most traded stock over the last quarter, recording over 538,000 shares valued at GHS 18.6 million.

The company’s performance reflects steady demand growth in petroleum products and increased efficiency in retail operations. TotalEnergies’ focus on renewable integration and digital service stations continues to attract sustainability-minded investors.

8. Guinness Ghana Breweries Plc (GGBL)

Despite facing industry pressures from rising input costs, Guinness Ghana Breweries has seen renewed investor activity in recent months. The beverage giant remains one of the top large-cap stocks on the exchange, benefiting from strong brand equity and a diversified product portfolio.

Guinness Ghana’s ongoing expansion in local sourcing and exports, coupled with its consistent dividend record, has made it a reliable performer on the GSE.

9. Fan Milk Limited (FML)

Fan Milk Ltd, one of Ghana’s most recognizable FMCG brands, remains a long-term investor favourite. While trading volumes are lower compared to MTN or GCB, the company’s market capitalisation and profitability potential ensure consistent investor interest.

Recent restructuring and capital injections from parent company Danone have strengthened Fan Milk’s balance sheet and positioned it for growth in West Africa’s expanding dairy and frozen foods market.

10. Access Bank Ghana Plc (ACCESS)

Rounding out the list is Access Bank Ghana, which has shown consistent growth in traded volumes and investor interest. The bank’s strong digitalisation drive, retail expansion, and solid financial performance make it a rising contender in the financial equities space.

Access Bank’s strong performance mirrors the confidence investors are regaining in Ghana’s banking sector, particularly following the macroeconomic stabilisation and improving credit environment.

GSE Market Outlook: Liquidity, Confidence and Recovery

The overall tone on the Ghana Stock Exchange this month is cautiously optimistic. Improved macroeconomic indicators—including single-digit inflation, a strengthening cedi, and rising GDP growth—are creating a more stable investment climate.

Investor sentiment is also buoyed by the Bank of Ghana’s continued commitment to fiscal discipline, digitalisation of the financial sector, and policies aimed at improving corporate governance and market transparency.

According to market watchers, the next phase of GSE’s growth depends on three key pillars:

1. Increased local participation through pension funds, cooperatives, and retail investors.

2. Broader listings from energy, telecom, and fintech companies.

3. Enhanced digital infrastructure to attract diaspora and foreign capital flows.

As the cedi stabilises and inflation eases, analysts expect more investors to return to equities, seeing them as a hedge against long-term inflation and a source of dividend income.

Conclusion From The High Street Business

The Ghana Stock Exchange remains undervalued relative to regional peers, yet offers immense growth potential. This month’s most-traded stocks—spanning telecoms, banking, insurance, and energy—reflect both investor confidence and the economy’s gradual structural recovery.

As one analyst put it, “The market is finding its rhythm again. Investors who position early stand to benefit as Ghana’s macroeconomic turnaround deepens.”

Source: The High Street Business