- Treasury bills dominate GFIM turnover as market records GH¢1.86 billion in trades
Trading activity on the Ghana Fixed Income Market remained strongly concentrated in short-term government securities on Tuesday, June 30, 2026, as Treasury bills accounted for the bulk of market turnover.
Total volume traded on the market reached GH¢1.86 billion across 1,517 trades, with Treasury bills contributing GH¢1.22 billion, representing 65.99% of total turnover.
Treasury bills also dominated activity by trade count, recording 1,436 trades, equivalent to 94.66% of all transactions executed on the market during the session.
The dominance of Treasury bills points to continued investor preference for short-term instruments, as market participants remain focused on liquidity, yield positioning and duration management in the fixed-income market.
DDEP bonds also recorded significant activity, with total turnover of GH¢599.89 million from 46 trades, representing 32.33% of market volume.
Sell/buy-back trades in Government of Ghana notes and bonds contributed GH¢28.32 million from 29 trades, accounting for 1.53% of total turnover, while corporate bonds recorded GH¢2.87 million across six trades, representing 0.15% of market activity.
There were no trades in new Government of Ghana notes and bonds or old Government of Ghana notes and bonds during the session.
In the DDEP bond segment, the largest volume was recorded in the GOG-BD-10/02/32-A6148-1838-9.10, which traded GH¢185.58 million across nine transactions. The bond closed at a yield of 14.06% and a price of 81.09.
The GOG-BD-12/02/30-A6146-1838-8.80 also saw notable activity, recording GH¢170.40 million in turnover from 17 trades, with a closing yield of 13.20% and closing price of 87.58.
Other active DDEP instruments included the GOG-BD-13/02/29-A6145-1838-8.65, which traded GH¢86.62 million across 10 trades, and the GOG-BD-16/02/27-A6143-1838-8.35, which recorded GH¢75.00 million in turnover from three trades.
In the Treasury bill segment, the largest volume was recorded in the GOG-BL-15/03/27-A6994-1998-0, which traded GH¢444.86 million across 30 transactions. The bill closed at a yield of 9.63% and a price of 93.61.
The strong activity in Treasury bills reflects sustained demand for short-dated government securities, which continue to attract investors seeking liquidity and relatively predictable returns.
The corporate bond market remained subdued, with the CMB-BD-30/08/27-A6302-1675-13.00 accounting for most of the segment’s activity after recording GH¢2.74 million from five trades. The bond closed at a price of 102.23.
In the sell/buy-back segment, the largest volume was recorded in the GOG-BD-15/02/28-A6144-1838-8.50, which traded GH¢10.62 million across 10 transactions at a yield of 12.23% and a price of 94.59.
The session’s trading pattern shows that while the DDEP bond market continues to provide meaningful secondary-market activity, Treasury bills remain the dominant instrument on the fixed-income market by both value and number of trades.
The preference for Treasury bills also suggests that investors are still cautious about longer-duration exposure, even as yields on some restructured bonds continue to attract selective demand.
For the wider market, the GH¢1.86 billion turnover underscores the continued depth of Ghana’s fixed-income market, but also highlights the concentration of liquidity in government short-term instruments.
With Treasury bills accounting for nearly two-thirds of turnover and more than nine out of every ten trades, short-term government paper remains the main driver of activity on the Ghana Fixed Income Market.
Source: Ghana Fixed Income Market trading report for Tuesday, June 30, 2026.
