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Ghana’s richest investor Daniel Ofori has seen his fortune increase by $7.6 million this year thanks to gains from his stake in GCB Bank, this reflects his influence on the local market and the importance of the lender in the country.
Daniel Ofori holds 19,867,154 shares in GCB Bank Plc, equal to a 7.5 percent stake. The market value of his stake has increased from $10.4 million on Jan. 1 to $18 million at the time of drafting this report. The gain underscores how movements in a single listed company can significantly affect the fortunes of its largest shareholders.
GCB Bank's market cap tops $240 million
GCB Bank as one of the country’s top lenders plays a key role in Ghana’s economy. The lender holds more than 11 percent of total deposits and ranks as the tenth most valuable company on the exchange. Its size and reach have made its shares a touchstone for both institutional investors and smaller traders looking for signals in the market.
The bank’s stock has rallied 73 percent this year, rising from GH₵6.37 ($0.52) in January to GH₵11.02 ($0.91). This propelled the bank’s market capitalization above $240 million and boosted Ofori’s shares by GH₵92.29 million ($7.6 million). The gains have also drawn in retail investors, with a $100,000 investment at the start of the year now worth more than $173,000.
Daniel Ofori’s steady hand builds lasting legacy
The year-to-date increase in Daniel Ofori's stake cements his position as Ghana’s richest investors. His fortunes remain closely tied to the performance of the banks and businesses in which he holds stakes and the latest rally in GCB Bank stock reinforces his reputation as a long-term investor in one of Ghana’s most important lenders.
