Trading activity in Ghana’s secondary bond market surged, with turnover jumping 92.48% week-on-week to GH¢1.83bn.
Trading was dominated by the February 2030 and February 2031 maturities. This accounted for 40% of total volume at an average Yield-To-Maturity (Y-T-M) of 27%.
Overall, the short end of the Local Currency Yield (LCY) curve led activity, contributing 54% of total turnover at an average YTM of 26%.
The belly and tail end made up the remaining 46% at an average YTM of 27%.
Looking ahead, analysts expect the coupon payments to bolster market activities.
The Ministry of Finance on Monday, February 17, 2025, honoured the Payment-In-Cash (PIC) coupon of GH¢6.081 billion to all Domestic Debt Exchange Programme (DDEP) bondholders.
The government also honoured the Payment-In-Kind (PIK) portion of GH¢3.46 billion, deposited into the respective bondholders’ securities accounts in line with the Domestic Debt Exchange Programme Memorandum.
Similarly, the government paid into the Debt Service Recovery Cedi Account (Sinking Fund) an amount of GH¢9.7 billion as a buffer for the 5th DDEP coupon that will mature in July and August, 2025.
