Ghana’s fixed income market opened the new trading week on a more subdued footing on Monday, March 30, 2026, processing a total of 1,222,660,636 securities across 481 transactions, a softer outing compared to the GH¢1.61 billion to GH¢1.70 billion sessions that characterised the final three days of last week.
Sell/buy-back repo operations on Government of Ghana (GoG) notes and bonds once again provided the anchor by value, recording 375,828,866 securities across 22 transactions. The session’s dominant repo instrument was the 2023-GC-6 bond, designated GOG-BD-10/02/32 and carrying a coupon of 9.10 percent, which registered 316,356,135 securities across 13 transactions at a yield of 16.35 percent. The 2023-GC-5 bond, the February 2031 maturity paper, contributed a further 43,077,792 securities in two transactions at a yield of 13.27 percent, while the 2023-GC-12 instrument maturing February 2038 added 4,982,466 securities across three trades at a yield of 13.02 percent.
The February 2032 paper has anchored repo activity throughout March 2026, consistently recording the largest single-instrument volume in sell/buy-back operations as institutional participants use it heavily for short-term liquidity management.
Treasury bills led by transaction count, contributing 557,607,653 securities across 432 trades and accounting for roughly 46 percent of total market volume. The standout instrument on the short end was the 182-day bill designated GOG-BL-01/03/27, which recorded 248,991,399 securities across 30 transactions at a closing price of 92.86. The GOG-BL-08/03/27 bill followed with 81,437,893 securities across 13 trades at a closing price of 91.79, while 182-day bills maturing in July 2026 attracted the bulk of the remaining bill activity, with the GOG-BL-27/07/26 paper registering 57,934,991 securities across seven transactions at 96.55.
Outright new GoG notes and bonds posted 289,224,117 securities across 27 transactions. The most actively traded bond in this segment was the 2023-GC-1 paper, designated GOG-BD-16/02/27 and carrying a coupon of 8.35 percent, which recorded 139,341,619 securities across six transactions at a closing yield of 10.19 percent and an end-of-day price of 98.45. The 2023-GC-6 February 2032 bond also appeared in outright trading, generating 57,022,000 securities in a single transaction at a closing yield of 12.35 percent, while the 2023-GC-2 February 2028 paper contributed 53,886,018 securities across 11 trades at 11.10 percent.
No outright trades were recorded in old GoG notes and bonds or corporate bonds during Monday’s session.
The near absence of corporate bond activity is consistent with a pattern observed throughout March, as institutional participants have concentrated their outright corporate exposure earlier in the week, typically through Ghana Cocoa Board instruments.
Trading continues on Tuesday, March 31, 2026.
