Ghana’s fixed income market recorded total trading volume of GH₵8.39 billion for the week ending Friday, February 13, 2026, representing a 26.54 percent decline from the previous week’s GH₵11.43 billion. The reduction in trading activity was driven primarily by significant drops in treasury bills and new government bonds transactions.
Treasury bills volume fell 59.66 percent to GH₵2.71 billion from GH₵6.72 billion the previous week, marking the sharpest decline among all securities categories. New Government of Ghana (GoG) bonds trading decreased 41.20 percent to GH₵2.32 billion from GH₵3.94 billion recorded the week before.
Corporate securities trading totaled GH₵176 million, down 33.80 percent from GH₵267 million in the prior week. The decline reflected reduced investor appetite for non-government debt instruments during the period.
Old GoG bonds bucked the downward trend with trading volume surging 11,701.54 percent to GH₵40.45 million from just GH₵343,000 the previous week. The dramatic increase suggests renewed interest in legacy government securities among institutional investors and fund managers.
Sell and buyback (SBB) trades jumped 524.54 percent to GH₵3.15 billion from GH₵505 million, indicating heightened liquidity management activities among financial institutions. SBB transactions involve securities sold with agreements to repurchase at predetermined prices, providing short-term funding for market participants.
Yield movements across the GoG bonds curve showed mixed trends during the week. Four-year bonds declined to 12.05 percent from 13.29 percent, while six-year bonds rose to 14.03 percent from 13.85 percent. Seven-year bonds dropped to 14.51 percent from 15.38 percent, and eight-year bonds fell to 13.40 percent from 14.35 percent.
Longer-dated securities experienced varied yield changes. Eleven-year bonds increased to 15.99 percent from 15.55 percent, while fourteen-year bonds declined to 15.03 percent from 15.68 percent. Fifteen-year bonds edged down to 15.20 percent from 15.37 percent.
Volume distribution across bond tenors revealed concentrated trading in medium-term instruments. Eight-year bonds led with GH₵555.72 million in transactions, down from GH₵657.41 million the previous week. Four-year bonds recorded GH₵486.36 million compared to GH₵435.50 million previously.
Nine-year bonds attracted GH₵335.95 million in trading volume, up from GH₵277.71 million. Seven-year bonds declined sharply to GH₵290.39 million from GH₵603.43 million, reflecting reduced appetite for this maturity segment.
Eleven-year bonds experienced substantial volume growth to GH₵144.39 million from just GH₵5 million the prior week, suggesting specific institutional demand for this tenor. Fifteen-year bonds recorded minimal activity at GH₵535,000 compared to GH₵9.69 million previously.
The overall decline in market activity reflects broader trends in Ghana’s fixed income environment amid evolving monetary policy conditions and investor risk assessments. Treasury bill volumes have historically shown volatility based on government financing needs and investor liquidity preferences.
Market participants continue monitoring yield curve movements to assess investment opportunities across different maturity profiles. The inverted sections of the yield curve, where shorter-term instruments yield more than some longer-term securities, suggest complex market expectations regarding inflation and monetary policy trajectory.
Ghana’s fixed income market remains a critical component of the domestic financial system, providing government financing while offering investment opportunities for banks, pension funds, insurance companies and other institutional investors. Weekly trading patterns reflect ongoing adjustments as market participants respond to macroeconomic developments and regulatory changes.
The data covers trading activities from Monday, February 9, 2026 through Friday, February 13, 2026, capturing transactions across multiple security types and maturities in the Ghana Fixed Income Market.
