• Some people earn a lot on the Ghana Stock Exchange
• Income is based on figures from investment agencies accompanied by recent annual reports from capital market registrars
• The list includes Daniel Ofori, Frank Adu Jnr and Joseph Siaw Agyepong
Although trading in stocks can be risky due to volatility and market sentiment, a number of Ghanaians still bet on the Ghana Stock Exchange (GSE) platform to diversify their income and investments.
According to Billionaires.Africa, a group of wealthy Ghanaians prefer to focus on increasing their investments through their private companies rather than trading on the local GSE stock exchange.
This means that while the stocks, bonds, and securities of companies traded on the GSE can vary, only a handful of wealthy people in Ghana choose to hold some of their investment portfolios rather like stocks in the stock market.
Based on figures from investment agencies along with recent confirmations of annual reports from capital market registrars obtained by Billionaires.Africa, some seven Ghanaians have been listed as the richest individuals on the Ghana Stock Exchange.
It is important to note that the value of the shares on the prices at the end of August 2021 trading activity and valuations have been converted to US dollars based on the current exchange rate.
Check out the list of people and ratings below, as first posted by Billionaires.Africa:
# 1 Daniel Ofori
Net worth on GSE: $ 28.5 million
Participations: GCB Bank, Calbank, SIC Insurance, Societe Generale Ghana
Daniel Ofori is by far the richest investor on the Ghana Stock Exchange. Its portfolio includes a 7.49% stake in GCB bank valued at $ 17.85 million; a 3.9% interest in Calbank valued at $ 2,852,900; 3.99% stake in SIC Insurance valued at $ 91,000 and 6.78% in Societe Generale Ghana valued at $ 7.624 million.
Ofori, who is a well-respected Ghanaian serial entrepreneur, has founded a series of successful businesses in the clothing retail, engineering and real estate industries.
# 2 Frank Adu
Net worth on GSE: US $ 1.9 million
Frank Adu owns a 2.63 percent stake in Calbank, one of Ghana’s largest commercial banks. His stake is worth $ 1.9 million.
Adu is the former CEO of the bank and won the prestigious African Banker of the Year award in 2018. Adu, who worked at Calbank for 30 years before retiring last year, is credited with transforming CalBank from a small, business-focused bank to a universal bank with 28 branches and nearly 1,000 employees and a balance sheet of over $ 1.2 billion.
# 3 Ebenezer Twum Asante
Net worth on GSE: US $ 1.69 million
Participations: Scancom PLC (MTN Ghana)
Ebenezer Twum Asante was the first Ghanaian to run Ghana’s main telecommunications company, Scancom PLC (MTN Ghana). He owns a 0.065 percent stake in the company, which is worth $ 1.69 million.
# 4 Kojo Anim-Addo
Net worth on GSE: US $ 971,639
Holdings: Standard Chartered Ghana, Benso Oil
Kojo Anim-Addo, an investor in GSE, owns a 0.23% stake in Standard Chartered Ghana valued at $ 952,339 and a 0.14% stake in Benso Oil valued at $ 19,300 .
# 5 Joseph Siaw Agyepong
Net worth on GSE: US $ 867,548
Participations: Access Bank Ghana Plc
Joseph Siaw Agyepong, one of Ghana’s best-known entrepreneurs and executive chairman of Jospong Group of Companies, owns 1,500,000 shares of Access Bank Ghana Plc, representing a 0.86% stake in the company. The shares are worth US $ 867,548.
# 6 Gideon Amenuvor
Net worth on GSE: US $ 583,927
Holdings: Societe Generale Ghana
Gideon Amenuvor, an investor in GSE, owns a 0.52 percent stake in Societe Generale Ghana, a commercial bank in Ghana.
# 7 Benjamin Fosu
Net worth on GSE: US $ 467,141
Benjamin Fosu owns a 0.65% stake in Calbank valued at $ 467,141.