Ghana's Bond Market Sees 47% Turnover Increase to GH¢4.07bn
Ghana's bond market turnover increased by 47.55% week-on-week to GH¢4.07 billion.
In Brief
- •Ghana's bond market turnover increased by 47.55% week-on-week to GH¢4.07 billion.
- •Trading was concentrated in the short-to-medium end of the curve, with 2027-2030 maturities accounting for 63.68% of turnover.
- •Moody's upgrade of Ghana's sovereign credit rating to B3 is expected to support bond market activity in the near term.
- •The September 2030 bond recorded GH¢45.85 million in turnover at a weighted-average yield of 11.94%.
Why It Matters
The increase in bond market turnover reflects growing investor confidence in Ghana's financial markets. This development is significant for the country's economic stability and fiscal self-reliance. The upgrade in Ghana's sovereign credit rating by Moody's is expected to further stimulate buying interest in existing bonds, potentially leading to increased market activity and investment.
Key Details
- Turnover Increase
- 47.55%
- Total Turnover
- GH¢4.07 billion
- 2027-2030 Maturities
- 63.68%
- 2031-2034 Segment
- 34.69%
- Post-2035 Bonds
- 1.63%
- September 2030 Bond Turnover
- GH¢45.85 million
- September 2030 Bond Yield
- 11.94%
Context & Background
Ghana's bond market has seen significant fluctuations in turnover over recent weeks, with increases and decreases ranging from 28% to 177%. The market's activity is influenced by various factors, including sovereign credit ratings and investor confidence.
Original Reporting & Sources
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