The Ghana Fixed Income Market recorded a total turnover of GH¢2.52 billion on Thursday, April 30, 2026, with trading activity dominated by Domestic Debt Exchange Programme (DDEP) bonds and Treasury bills.
Market data showed that the volume was generated from 529 trades, reflecting sustained investor participation in government securities as the market continues to adjust to post-restructuring dynamics.
DDEP bonds emerged as the primary driver of value, recording GH¢1.62 billion in turnover from 40 trades. This segment accounted for the largest share of total market activity, reinforcing its role as a liquidity anchor.
The most significant transaction was recorded in the GOG-BD-10/02/32 bond, which posted a turnover of GH¢1.21 billion from just three trades. The bond closed with a yield of 12.59 percent, highlighting continued investor interest in restructured government instruments.
Analysts note that “DDEP bonds are now serving as a major liquidity anchor,” with investors actively positioning across different maturities and yield levels.
Treasury Bills Lead in Trade Volume
While DDEP bonds dominated by value, Treasury bills led in terms of transaction count, recording GH¢700.88 million across 447 trades. This underscores strong demand for short-term instruments, particularly among investors prioritising liquidity and predictable returns.
The most active Treasury bill traded GH¢124.63 million and closed at a price of 98.2554, reflecting stable pricing conditions in the short-term segment.
The high volume of trades suggests that Treasury bills remain central to market breadth, offering flexibility in a still-evolving investment environment.
Corporate bond activity remained subdued, with total turnover of just GH¢2.44 million from eight trades. The leading corporate instrument recorded GH¢1.96 million in trades, indicating relatively low participation compared to government securities.
This imbalance highlights the continued dominance of government debt in Ghana’s fixed income market, where private-sector instruments have yet to gain significant traction.
Market Reflects Liquidity Preference
Sell/buy-back transactions in Government of Ghana notes and bonds contributed GH¢197.95 million, adding another layer of activity to the session.
Overall, the trading pattern reflects a market still shaped by liquidity preference, post-restructuring bond repricing, and cautious investor behaviour.
The strong performance of DDEP bonds signals renewed appetite for government paper, while the limited activity in corporate bonds underscores structural gaps in market depth.
The April 30 session ultimately reinforces the central role of government securities in driving both value and activity within the Ghana Fixed Income Market.
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