The Government of Ghana has successfully secured GH¢3.1 billion in investor bids for its inaugural 7-year cedi-denominated bond auction following the Domestic Debt Exchange Programme (DDEP).
Emerging details indicate that the government accepted GH¢2.7 billion of the total bids submitted. Furthermore, authorities have agreed to a coupon rate of 12.5% on the bond, which is set to mature on March 29, 2033.
Settlement for successful bids is scheduled to take place on April 7, 2026, and the bond is expected to be listed on the Ghana Stock Exchange to facilitate active trading.
The government had planned to raise GH¢15.231 billion through treasury bills and bonds between March and June 2026, with the funds earmarked to support budget implementation and roll over existing debt maturities.
Additionally, authorities aim to establish benchmark bonds through these issuances.
The issuance calendar for March to June 2026 is expected to provide market participants with clear guidance to inform their investment decisions. On March 30, the government officially launched the 7-year cedi-denominated bond, marking the first issuance of its kind since 2022.
This move follows the expiration of restrictions under the Domestic Debt Exchange Programme introduced in 2023 after Ghana’s debt default.
Investors were required to submit a minimum bid of GH¢50,000, with the bond open to both resident and non-resident participants.
Proceeds from the bond are expected to finance projects outlined in the 2026 budget. According to a circular accompanying the issuance, the government aims to re-establish a domestic funding programme, support liquidity management, refinance maturing obligations, rebuild the sovereign yield curve, expand investment opportunities, and restore investor confidence.
The Finance Ministry indicated that participation will not be limited to pension funds, insurance companies, and asset managers.
By: Rainbowradioonline.com/Ghana
