- GFIM Turnover Falls to GH¢677.25m as Sell/Buy-Back Trades Dominate
The Ghana Fixed Income Market recorded a further slowdown in trading activity on Friday, May 8, 2026, with total turnover falling to GH¢677.25 million across 513 trades, as sell/buy-back transactions in Government of Ghana bonds dominated the session. The latest turnover marks a decline from the GH¢901.68 million recorded in the previous session, pointing to a cooler end to the trading week after earlier rebounds in secondary market activity.
Sell/buy-back trades in Government of Ghana notes and bonds accounted for the largest share of activity, recording GH¢500.01 million across 35 trades. This represented about 73.8% of total market turnover, reinforcing the central role of repo-style transactions in liquidity management on the fixed income market.
Treasury bills followed with GH¢103.55 million across 464 trades, making them the most active segment by number of transactions but only about 15.3% of total turnover.
DDEP bonds recorded GH¢38.39 million from six trades, while new Government of Ghana notes and bonds posted GH¢35.25 million from five trades. Corporate bonds remained thin, recording just GH¢51,736 from three trades. Old Government of Ghana notes and bonds recorded no trading activity during the session.
In the sell/buy-back segment, the largest traded instrument was the GOG-BD-10/02/32-A6148-1838-9.10, which recorded GH¢85.00 million from five trades. The bond closed at a yield of 13.92% and a weighted average closing price of 81.2501.
Other notable sell/buy-back activity included the GOG-BD-11/02/31-A6147-1838-8.95, which recorded GH¢135.00 million from three trades, and the GOG-BD-15/02/28-A6144-1838-8.50, which traded GH¢90.00 million across nine transactions.
In the Treasury bills segment, the largest traded instrument was the GOG-BL-08/02/27-A6964-1992-0, which recorded GH¢30.43 million from seven trades. The bill closed at a yield of 8.78% and an end-of-day closing price of 93.9080.
The DDEP bond market was led by the GOG-BD-16/02/27-A6143-1838-8.35, which traded GH¢38.00 million across three transactions. It closed at a yield of 11.00% and an end-of-day closing price of 98.0416. The new Government of Ghana notes and bonds segment was driven entirely by the GOG-BD-29/03/33-A6155-2001-12.50, which recorded GH¢35.25 million across five trades. The seven-year bond closed at a yield of 12.47% and a closing price of 100.1058.
Corporate bond activity was negligible. The largest corporate trade was in the CMB-BD-30/08/27-A6302-1675-13.00, which recorded GH¢47,736 from one trade and closed at 102.3499.
The day’s trading pattern showed a fixed income market still heavily shaped by liquidity management rather than broad-based secondary trading. Sell/buy-back transactions alone carried the market, while outright trading in Treasury bills, DDEP bonds and corporate securities remained comparatively subdued.
The broader market signal remains unchanged: government paper continues to anchor pricing and liquidity, while corporate bonds remain marginal in daily turnover.
Overall, the May 8 session reflected a quieter market, with activity concentrated in sell/buy-back trades and limited depth across other fixed income segments.
