Ghana’s fixed income market recorded robust trading activity on November 25, 2025, with total transactions exceeding GH¢1.2 billion across multiple debt instruments.
The market processed GH¢1,212,581,249 in total trades through 4,679 transactions, reflecting strong demand for government and corporate debt securities. Treasury bills dominated activity, accounting for GH¢368,707,064 across 4,616 deals.
Government of Ghana (GoG) notes and bonds attracted significant investor interest. New GoG securities generated GH¢567,787,806 in volume through 29 transactions, while older issues saw GH¢600,000 traded in three separate deals. Sell and buyback arrangements for GoG instruments added another GH¢239,033,569 across 23 trades.
The most actively traded security was a GoG bond maturing February 10, 2032, which changed hands to the tune of GH¢264,112,616 in seven transactions. This particular bond, carrying a 9.10 percent coupon, closed at 75.3953 with a yield of 15.36 percent.
Treasury bill activity centered on a security maturing February 23, 2026, which saw GH¢189,838,926 traded across 3,777 transactions. The instrument closed at 97.5314, indicating strong appetite for short-term government paper.
Corporate bonds contributed GH¢36,452,810 to overall market volume through eight transactions. A Consolidated Bank of Ghana (CBG) bond maturing August 28, 2028, led corporate debt trading with GH¢34,421,710 in volume across four deals. The security, which carries a 13.00 percent coupon, closed at 91.8956.
The yield environment remains elevated, reflecting broader economic conditions and investor return expectations. The most traded older GoG bond, maturing November 2, 2026, offered a yield of 21.60 percent while closing at 97.8443.
Market participants continue navigating a landscape shaped by monetary policy adjustments and inflation dynamics. The Bank of Ghana (BoG) has been managing liquidity conditions through various policy tools, though no BoG bills traded during Monday’s session.
Fixed income markets provide crucial funding for government operations and corporate expansion while offering investors relatively stable returns. The diversity of maturities and yields available allows portfolio managers to match investment horizons with risk tolerance.
Trading will resume Tuesday as investors assess opportunities across the yield curve. With year end approaching, institutional players are finalizing portfolio positioning ahead of annual reporting requirements.