Ghana’s secondary bond market turnover falls 28.56% — MyJoyOnline

In Ghana, trading volume on the secondary bond market declined by 28.56% over the week to 1.56 billion Ghanaian cedis. MyJoyOnline reports, citing a Databank Research review.

2031–2034 bonds were traded the most

The bulk of transactions involved securities maturing in 2031–2034. This segment accounted for 71.30% of total trading volume, with an average yield of 13.93%.

Bonds maturing in 2027–2030 accounted for 23.05%, with an average yield of 12.37%. Securities maturing after 2035 generated 5.65% of turnover, while their average yield reached 15.34%.

A new bond issue maturing in September 2030 recorded trading volume of 5.45 million Ghanaian cedis. The weighted average yield on these securities was 11.85%.

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Databank Research forecast

Databank Research expects a moderate revival of the secondary market during the current week due to month-end portfolio rebalancing by fund managers.

At the same time, the company believes that trading volume growth may be limited, as investors may direct part of their liquidity to COCOBOD’s 16.3 billion Ghanaian cedi issuance programme. Bookbuilding took place on September 28–29.

The offering provides for the issuance of five-year senior unsecured amortising bonds worth 2.3 billion Ghanaian cedis and 270-day commercial papers worth 14 billion Ghanaian cedis. Allocation of the securities is scheduled for September 30, with issuance set for October 1, 2026.