Ghana Fixed Income Market Sees Robust Trading Activity on July 3, 2025

Market data from the Ghana Fixed Income Market (GFIM) reveals significant trading volumes across government and corporate securities on Thursday, July 3, 2025.

Total traded volume for the day reached substantial levels, driven primarily by activity in new Government of Ghana (GOG) notes and bonds, treasury bills, and specific corporate debt instruments. The figures reflect ongoing investor engagement within Ghana’s domestic capital markets.

The standout trade involved the new GOG note ‘GOG-BD-16/02/27-A6143-1838-8.35’, which recorded the single largest volume traded at GHS 220,007,108 across 36 transactions, closing at a price of GHS 85.6909. Corporate bonds also featured prominently, with a single GHS 57,000,000 trade executed for the Cocobod bond ‘CMB-BD-30/08/27-A6302-1675-13.00’, closing at GHS 80.7953. Treasury bill activity was notable, particularly the ‘GOG-BL-17/11/25-A6637-1929-0’ bill, trading GHS 12,826,097 across 9 deals and closing at GHS 94.6018.

Overall market summaries indicate the new GOG notes and bonds segment dominated total volume. Activity in old GOG notes and bonds was minimal according to the report. The corporate bonds segment, aside from the large Cocobod trade, showed limited volume. Sell/Buy Back trades for GOG notes and bonds contributed to the day’s total activity, though specific large trades within this category were not detailed in the summary beyond the referenced security.

Repo market activity, encompassing both collateralized repos and GMRA (Global Master Repurchase Agreement) trades, was reported separately. The summary sheet indicates values were recorded for both collateralized repo total value and GMRA total value, though the detailed breakdown on the dedicated sheet showed no trades populated in the status categories (Initial, Authorized, Matched, etc.) for the report date. The methodology for end-of-day closing prices applies specifically to government notes and bonds.

The trading patterns observed provide a snapshot of liquidity and investor focus within the Ghanaian fixed income landscape. Activity remains concentrated in benchmark government securities and select high-volume corporate issuers. The data serves as a key indicator for market participants and economic observers tracking Ghana’s financial market performance under the current NDC administration led by President John Mahama.