Trading activity on the Ghana Fixed Income Market (GFIM) reached GH₵1.52 billion on Wednesday, May 13, 2026, as investors continued to favour Treasury bills and short-term liquidity instruments amid evolving market conditions.
According to the latest GFIM trading report, total market turnover stood at GH₵1.517 billion across 653 trades, reflecting sustained demand for government-backed securities and collateralised funding transactions.
The strong performance was largely driven by sell/buy-back transactions involving Government of Ghana securities and active trading in Treasury bills, underscoring investor preference for short-duration assets in a market still adjusting to lower interest rates and improving macroeconomic indicators.
Sell/Buy-Back Trades Dominate Market Turnover
Sell/buy-back transactions accounted for the largest share of trading activity during the session. Government of Ghana notes and bonds under the segment recorded GH₵935.49 million in turnover from 84 trades, representing roughly 62 percent of the day’s total market volume.
Market analysts say the dominance of repo-style transactions highlights the importance of liquidity management within the financial system as institutions continue to position cautiously in the fixed income space.
The most actively traded instrument in the segment was the GOG-BD-10/02/32-A6148-1838-9.10, which generated turnover of GH₵577.98 million from 36 trades. The security closed with a yield of 13.77 percent and a weighted average closing price of 81.77.
Treasury Bills Remain Investor Favourite
Treasury bills also recorded strong activity, with turnover reaching GH₵580.13 million across 556 trades, making the segment the busiest by transaction count.
The most traded Treasury bill was the GOG-BL-30/11/26-A6919-1983-0, which posted turnover of GH₵129.85 million from 11 trades. The bill closed at a yield of 7.43 percent and a closing price of 96.06.
The sustained demand for Treasury bills reflects investor appetite for lower-risk and highly liquid instruments as market participants monitor interest-rate trends, inflation developments and fiscal conditions.
Long-Term Bond Activity Remains Muted
Despite the strong overall turnover, activity in the long-term bond market remained subdued. Domestic Debt Exchange Programme bonds recorded only GH₵1.58 million from five trades, while corporate bonds generated GH₵707,100 across eight trades.
New and old Government of Ghana notes and bonds recorded no outright trading activity during the session.
Analysts say the cautious approach toward longer-dated securities suggests investors remain selective following Ghana’s domestic debt restructuring programme, with many preferring shorter-term exposure and flexible investment positions.
The latest GFIM figures come at a time when easing inflation and improving currency stability are strengthening confidence in Ghana’s financial markets. However, trading patterns indicate that liquidity preservation and risk management continue to shape investor behaviour across the fixed income market.
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