- Fixed Income Market Turnover Rises to GH¢1.51bn as T-Bills, DDEP Bonds Lead Liquidity
Trading activity on the Ghana Fixed Income Market closed at GH¢1.51 billion on Thursday, May 21, 2026, with sell/buy-back transactions and treasury bills accounting for the bulk of market turnover.
According to the GFIM trading report, total traded volume stood at GH¢1.51 billion across 490 trades, reflecting continued activity in short-term government paper and structured secondary-market transactions.
Sell/buy-back trades in Government of Ghana notes and bonds led the session, recording GH¢798.37 million across 74 trades. Treasury bills followed with GH¢513.02 million from 395 trades, underlining sustained liquidity at the short end of the market.
Domestic Debt Exchange Programme bonds recorded GH¢196.23 million from 10 trades, while corporate bonds contributed GH¢6.99 million across 11 trades.
There were no outright trades recorded in new Government of Ghana notes and bonds or old Government of Ghana notes and bonds during the session.
In the sell/buy-back market, the largest transaction was recorded in the GOG-BD-10/02/32-A6148-1838-9.10, which posted GH¢328.80 million across 11 trades at a yield of 13.98 per cent and weighted average closing price of 81.1241.
Other major sell/buy-back trades included the GOG-BD-06/02/35-A6151-1838-9.55, which recorded GH¢190.05 million across 10 trades at a yield of 14.43 per cent, and the GOG-BD-11/02/31-A6147-1838-8.95, which posted GH¢130.30 million across eight transactions at a yield of 13.88 per cent.
The DDEP segment was concentrated entirely in the GOG-BD-16/02/27-A6143-1838-8.35, which recorded GH¢196.23 million across 10 trades. The bond closed at a yield of 10.39 per cent and an end-of-day closing price of 98.5423.
In the treasury bills market, the largest trade was the GOG-BL-17/08/26-A7030-2007-0, which recorded GH¢167.84 million across 33 trades. The instrument closed at a yield of 4.98 per cent and a closing price of 98.8111.
Other notable treasury bill trades included the GOG-BL-27/07/26-A6953-1991-0, with GH¢96.04 million traded at a closing yield of 5.53 per cent, and the GOG-BL-18/01/27-A6954-1990-0, which posted GH¢51.33 million at a closing yield of 8.26 per cent.
The GOG-BL-17/05/27-A7039-2007-0 also remained active, recording GH¢48.40 million across 28 trades at a closing yield of 10.17 per cent.
Corporate bond activity was driven entirely by Ghana Cocoa Board paper. The CMB-BD-28/08/28-A6301-1675-13.00 recorded GH¢6.99 million across 11 trades, closing at a price of 102.9099.
The session points to a market still anchored by short-term liquidity and collateralised bond activity rather than outright long-term bond trading. Treasury bills remained the most active segment by number of trades, while sell/buy-back transactions dominated by value.
The broader fixed-income market continues to reflect a careful balance between falling yields, liquidity management and selective duration exposure as investors assess the path of inflation, policy rates and government borrowing needs.
