Ghana’s richest investor Daniel Ofori hit by $24 million loss on Soc. Gen. Ghana stake in 143 days

Daniel Ofori, a Ghanaian multimillionaire businessman who ranks as the richest investor on the Ghana Stock Exchange, has witnessed a significant drop in the market value of his stake in Societe Generale Ghana over the past 143 days, losing close to $24 million.

The decline stems from a steep fall in the lender’s share price on the Ghana Stock Exchange (GSE) and the devaluation of the Ghana cedi.

Losses deepen amid cedi decline

The Ghanaian serial investor Daniel Ofori holds a 6.81% stake in Societe Generale Ghana Ltd., making him the third-largest shareholder after the Social Security and National Insurance Trust and SG Financial Services Holding, a wholly owned subsidiary and holding company belonging to the French multinational banking group, Société Générale.

This stake, representing 48.27 million ordinary shares, has seen its value decrease by GH₵227.37 million ($23.65 million) over the past 143 days.

While the decline appears to be 40.92% in local currency terms, the Ghanaian cedi’s depreciation against the dollar amplified Ofori’s losses to 45.56%. This marks a stark contrast to the GH₵338.88 million ($31.25 million) gain he enjoyed in the first 61 days of 2026.

Currency slide weighs on Soc. Gen. shares

Societe Generale Ghana PLC, a leading foreign-owned bank in Ghana’s financial sector, provides a broad range of services spanning retail banking, corporate finance, SME lending, and trade facilitation, leveraging the global expertise and capital backing of its parent, Societe Generale, while maintaining a strong local presence through its network of 38 branches nationwide and digital banking network. The lender traces its origins to February 7, 1975, when it was originally incorporated as Security Guarantee Trust Limited. It later became the Social Security Bank (SSB) before the French group Société Générale acquired a controlling stake and rebranded the institution.

Amid its strong market presence, the lender’s shares climbed by 51.45% year-to-date in local terms, from GH₵4.49 at the start of the year to GH₵6.8 at the time of drafting this report.

However, the depreciation of the Ghanaian Cedi has tempered the gains, resulting in a year-to-date gain of 36.81% of its value against the US dollar.

Adjusted for currency devaluation, Soc. Gen.’s share price has climbed from $0.428 to $0.585, representing a 36.8% gain. This has caused the company’s market capitalization to reach GH₵4.82 billion ($414.85 million).

Daniel Ofori’s wealth takes $24 million hit
For Daniel Ofori, the impact has been felt on the flip side. While his stake in the lender, which ranked as the 4th largest bank in Ghana, has experienced a year-to-date gain of GH₵111.51 million ($7.6 million), over the past 143 days, this has resulted instead in a paper loss of GH₵227.37 million ($23.65 million), from GH₵555.63 million ($51.9 million) to GH₵328.26 million ($28.65 million)

His holdings have declined from $51.9 million on March 3 to $28.65 million as of report writing, marking a $23.65-million loss.

Nevertheless, Ofori remains Ghana’s wealthiest investor and retains his position as the leading investor on the Ghana Stock Exchange (GSE), underscoring his status among Ghana’s wealthiest businessmen.