- GFIM Turnover Drops Below GH¢1 Billion After Strong Previous Session
The Ghana Fixed Income Market recorded a sharp slowdown in trading activity on Thursday, May 7, 2026, with total turnover falling to GH¢901.68 million across 297 trades, as activity moderated after the previous session’s strong rebound. The market had recorded turnover of GH¢2.15 billion on May 6, meaning Thursday’s session reflected a significant pullback in secondary market activity.
Sell/buy-back transactions involving Government of Ghana notes and bonds led trading, recording GH¢375.91 million across 27 trades. Treasury bills followed with GH¢267.74 million from 227 trades, making them the most actively traded segment by number of transactions.
DDEP bonds recorded GH¢157.21 million across 25 trades, while new Government of Ghana notes and bonds contributed GH¢100.30 million from 11 trades. Old Government of Ghana notes and bonds recorded modest activity of GH¢220,000 from three trades, while corporate bonds posted GH¢302,319 from four trades.
The day’s trading pattern showed that market liquidity remained concentrated in short-term government securities and structured sell/buy-back activity, with corporate bonds still representing only a marginal share of turnover.
In the sell/buy-back segment, the largest transaction was recorded in the GOG-BD-10/02/32-A6148-1838-9.10, which traded GH¢234.07 million across 14 trades. The instrument closed at a yield of 13.54% and a weighted average closing price of 82.5382.
Treasury bill activity was led by the GOG-BL-27/07/26-A6819-1965-0, which recorded GH¢92.50 million from three trades. The bill closed at a yield of 5.41% and an end-of-day price of 98.8114.
In the DDEP bond segment, the GOG-BD-16/02/27-A6143-1838-8.35 was the most traded instrument, recording GH¢85.80 million across 15 trades. It closed at a yield of 11.04% and an end-of-day price of 98.0054.
The new Government of Ghana notes and bonds segment was driven entirely by the GOG-BD-29/03/33-A6155-2001-12.50, which traded GH¢100.30 million across 11 trades. The 7-year bond closed at a yield of 12.46% and an end-of-day price of 100.1567.
Corporate bond activity remained thin, led by the KCP-NT-12/09/28-C0933-23.50, which recorded GH¢120,000 in turnover from one trade and closed at a price of 99.8057.
The May 7 session reinforced the continued dominance of government paper in Ghana’s fixed income market. Sell/buy-back transactions, Treasury bills and DDEP bonds together accounted for more than 88% of total turnover.
The sharp decline in turnover suggests a more cautious trading tone after the previous day’s stronger activity. However, the continued presence of Treasury bill trades and DDEP bond transactions indicates that liquidity remains available in selected instruments. The broader market signal remains clear: Ghana’s fixed income market is still being shaped by short-duration positioning, selective trading in restructured bonds and liquidity management through sell/buy-back deals.
Overall, Thursday’s session showed a cooler but still active market, with government securities continuing to define pricing, liquidity and investor sentiment.
