Bond market turnover declines by 54%
Bond market turnover in Ghana decreased by 54.8% to GHS954.15 million last week, according to market statistics.
The slowdown in activity was largely due to the government’s engagement with stakeholders over the Domestic Debt Exchange Programme (DDEP), which resulted in quiet sessions on the market.
The October 2024, May 2023, and June 2028 papers dominated trading, with total volumes of GHS107.60 million, GHS133.78 million, and GHS105.39 million respectively.
Analysts expect a lack of activity this week, as the deadline for participating in the DDEP ends today unless otherwise.
A week prior, the bond market saw a 319.2% week-on-week improvement, totaling GHS2.11 billion, as the DDEP gained momentum.
The government made notable progress in the DDEP, as key stakeholders agreed to terms such as a 5% coupon rate on the new bonds in 2023 and the removal of clauses that grant the government the ability to change the terms of exchange.
