GFIM records 58% decrease in bond volumes traded

Ghana’s bond market, under the Ghana Fixed Income Market (GFIM) recorded a 57.26% decrease in volume of bonds traded at 98.44 billion at the close of 2023 against 230.32 billion observed in 2022, a report from the Ghana Stock Exchange (GSE) has revealed.

The total number of trades for the year declined by 24.36%, from 528,188 trades in 2022 to 399,522 trades in 2023.

According to the report, long-term government securities accounted for 32.47% of market activity, while short-term government instruments constituted 58.64%, with corporate trades comprising 8.89% within the year.

 The year closed with a decrease in volume, value, and number of trades within the Equities market, compared to the figures from the previous year. The top gainers for the year were IIL (25.00%), BOPP (10.39%), FML (7.62%), and GOIL (3.45%).

On the equities market, the cumulative volume traded amounted to 579,675,315, valued at GH¢ 818,169,530.95, indicating a decline of 56.59% and 50.11%, respectively, compared to the same period last year.

Despite a marginal 0.08% decrease in the number of transactions, there was a noteworthy increase in market capitalization, rising by 14.55% from GH¢64,507.32

million at the end of December 2022 to GH¢73,893.17 million by the close of December

2023.