- NorvanReport | GFIM: Market Closes Strong With GH¢2.02 Billion in Trades
The Ghana Fixed Income Market recorded total turnover of GH¢2.02 billion on Wednesday, April 29, 2026, as trading activity remained concentrated in sell/buyback transactions and Treasury bills.
Data from the trading session showed that total volumes across all market segments reached GH¢2.02 billion, from 6,315 trades, underscoring sustained liquidity in short-term government securities and structured government bond transactions.
Sell/buy-back trades in the Government of Ghana notes and bonds accounted for the largest share of activity, with a total volume of GH¢839.96 million from 54 trades. Treasury bills followed closely, with GH¢786.07 million traded across 6,235 transactions, making them the most active segment by number of trades.
The Domestic Debt Exchange Programme bond segment recorded a turnover of GH¢389.10 million from 14 trades, while new Government of Ghana notes and bonds recorded GH¢1.04 million from two trades. Old Government of Ghana notes and bonds registered GH¢318,861 from five trades, while corporate bonds recorded GH¢1.82 million from five trades.
The trading pattern shows that fixed income liquidity is still mostly in Treasury bills and post-restructuring government securities, with investors still preferring instruments that have shorter duration, better secondary-market visibility, and clearer pricing signals.
In the Treasury bills segment, the GOG-BL-27/07/26-A7015-2004-0 bill recorded the largest volume, trading GH¢277.17 million over 5,607 trades. The bill closed at a price of 99.9989, making it the dominant instrument in the short-term market for the session.
The largest Domestic Debt Exchange Programme bond trade was in the GOG-BD-16/02/27-A6143-1838-8.35, which recorded a turnover of GH¢336.35 million from five trades. The bond closed with a yield of 9.93 per cent and an end-of-day closing price of 98.7820.
In the sell/buy-back segment, the most actively traded instrument was the GOG-BD-10/02/32-A6148-1838-9.10, which recorded GH¢544.67 million in volume from four trades. The transaction carried a yield of 13.14 per cent and a weighted average closing price of 83.9167.
For new Government of Ghana notes and bonds, the GOG-BD-29/03/33-A6155-2001-12.50 recorded the day’s activity, with GH¢1.04 million traded across two transactions. The seven-year bond closed at a yield of 12.37 per cent and an end-of-day closing price of 100.5514.
Corporate bond activity remained modest. Ghana Cocoa Board securities led the segment, with the CMB-BD-31/08/26-A6303-1675-13.00 recording GH¢1.31 million from three trades, while the CMB-BD-28/08/28-A6301-1675-13.00 recorded GH¢503,000 from two trades.
The session reinforces the structure of Ghana’s secondary fixed income market, where liquidity remains deep in government securities but thinner in corporate bonds. Treasury bills continue to dominate retail and institutional turnover by trade count, while larger-value activity is increasingly visible in sell/buy-back transactions involving Government of Ghana bonds.
Overall, the April 29 trading session showed a fixed income market anchored by government paper, with Treasury bills driving breadth and sell/buy-back bond transactions driving scale.
