Ghana Fixed Income Market Sees Strong Growth in August Trading
The Ghana Fixed Income Market (GFIM) recorded a sharp rise in trading activity in August, reflecting renewed investor interest in government and corporate debt instruments.
According to figures published by the Ghana Stock Exchange (GSE), total volumes traded reached 23.92 billion securities, up 11.67 percent from 21.42 billion in July. Market watchers say the performance underscores improved liquidity and confidence in the fixed-income segment, even amid a cautious macroeconomic environment.
Treasury Bills Lead the Market
Treasury Bills remained the most actively traded instruments, accounting for 46.25 percent of total transactions. Government Notes and Bonds followed closely with a 37.44 percent share, highlighting sustained demand for medium- to long-term government paper.
The Bank of Ghana’s bills contributed 12.61 percent, while Corporate Bonds represented 3.70 percent of total market activity. Although small, analysts note that corporate debt continues to provide an avenue for private sector financing, which could grow as Ghana’s business environment stabilizes.
Investor Sentiment on the Rise
Market analysts point to a combination of factors behind the increased activity, including improving inflation trends, ongoing fiscal reforms, and relatively attractive yields. With Treasury Bill rates continuing to draw strong domestic participation, institutional investors are also diversifying into longer-dated bonds to lock in value.
According to the GSE, the momentum reflects growing confidence in the fixed income market as a platform for mobilizing capital and managing investment risks. Industry experts, however, stress the need to deepen corporate bond issuance to provide more options for investors and enhance private sector funding.
