Ghana equities continue positive run

Ghana's equities market is experiencing a positive run as the Bank of Ghana Governor, Ernest Addison, highlighted the decision to maintain the policy rate and the recent approval of the Extended Credit Facility by the IMF. These developments are expected to enhance investors' confidence in the domestic market. The Ghana Stock Exchange (GSE) index has shown resilience with a year-to-date performance of 4.7%, signaling a promising outlook for investors. Michael Asare, a Research Analyst at Apakan Securities, shared insights on the market's reaction to these significant events. As investors eagerly anticipate the impact of the IMF deal on the market, various sectors are poised to drive positive momentum. The recent Monetary Policy Committee meeting kept the NPR unchanged at 29.5%, sending a strong signal on policy stability. Analysts project a shift towards easing monetary policy to support growth in the coming months. Despite challenges faced by sectors such as banking and consumer goods, companies have shown resilience in their performance, reflecting a robust business environment. As the market awaits the gradual improvement brought by the IMF deal, investors are advised to cautiously consider re-entry points and focus on stocks with strong fundamentals. Companies like Unilever Ghana, Benso Oil and Plantation, and South Energy are among the top picks due to their historical performance and value proposition. With positive earnings reports and steady dividend payments, these stocks present attractive opportunities for investors looking to tap into Ghana's growing equities market.