Secondary bond market liquidity remained modest, with turnover rising slightly by 0.35% week-on-week to GH¢1.59 billion. Trading was heavily concentrated in the February 2027 benchmark, where volumes surged 57.7% week-on-week to GH¢824.61 million.
Investor interest continued to focus on the 2027–2030 segment, which captured 70.2% of total volumes at a weighted-average yield of 15.06%.
Activity in the 2031–2034 segment was more subdued, accounting for 21.3% of turnover and clearing at a weighted-average yield of 15.69%. Meanwhile, the 2035–2038 tenors saw limited trading, representing 8.6% of total volumes at a weighted-average yield of 16.08%.
Databank Research noted that renewed market interest is expected as the Ministry of Finance moves forward with plans to issue Ghana’s first domestic infrastructure bond, targeting GH¢10 billion in two tranches of GH¢5 billion each, with the initial issuance anticipated in the first half of the year.
The new issuance is expected to broaden local investment options and enhance market depth.
“Looking ahead, the release of the domestic debt calendar and guidance from the upcoming MPC meeting should provide clearer direction for investor positioning and demand,” Databank Research concluded.
