The Ghana Fixed Income Market (GFIM) registered a total trading volume of GHS 288.12 million on Wednesday, May 28, 2026. This significant activity was largely propelled by sell-buy back transactions involving government bonds.
Sell-buy back trades, which are agreements to sell securities and repurchase them later, accounted for GHS 168.44 million across seven transactions. This figure represented more than half of the day's total market turnover. The most active sell-buy back instrument was the GOG-BD-10/02/32-A6148-1838-9.10 bond, which alone recorded GHS 167.54 million in two trades.
This robust trading aligns with Ghana's ongoing efforts to stabilise its public finances and manage its debt. The government continues to restructure its domestic debt through initiatives like the Domestic Debt Exchange Programme (DDEP). This broader economic context influences investor behaviour and market liquidity for government securities.
Bonds from the Domestic Debt Exchange Programme (DDEP) also demonstrated significant activity, contributing GHS 95.19 million across four trades. This made them the second-largest driver of market turnover. The largest DDEP bond transaction involved the GOG-BD-16/02/27-A6143-1838-8.35, which traded GHS 94 million in two deals.
Ghana's fixed income market has seen increased activity around DDEP bonds and other government securities. This reflects adjustments by investors as the economy navigates post-restructuring phases. The Bank of Ghana continues to monitor market conditions closely to ensure financial stability.
The dominance of sell-buy back trades indicates an ongoing need for liquidity management tools among investors. The significant trading in DDEP bonds suggests that the restructured debt market remains crucial for price discovery. Investors continue to seek opportunities within Ghana's evolving financial landscape.
Treasury bills recorded GHS 24.44 million in volume from 120 trades, maintaining their status as the most frequently traded instrument category. Their popularity shows continued investor interest in shorter-duration instruments despite lower yields compared to Ghana's recent debt and inflation crisis peaks. The largest Treasury bill trade was GHS 12.79 million for the GOG-BL-19/10/26-A7014-2003-0 bill.
Corporate bonds saw modest activity, totalling GHS 53,000 across two trades. The Ghana Cocoa Board's CMB-BD-30/08/27-A6302-1675-13.00 bond was the most active in this category, recording GHS 50,000 in one trade. The day's trading showed no outright buying or selling of new or old Government of Ghana notes and bonds.
The observed market activity underscores a continued focus on liquidity positioning. Investors are also taking cautious approaches to duration exposure. This trend highlights active trading in post-restructuring government securities. The market will continue to reflect both ongoing economic adjustments and investor strategies.