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Ghana financial markets see surge in Treasury bill demand and stock trading
Ghana's financial markets have shown significant activity, characterized by surging investor demand for government securities and increased trading volumes on the Ghana Stock Exchange (GSE).
In a recent Treasury bill auction, the Bank of Ghana received bids totaling GH¢5.06 billion, exceeding the government's target by approximately 76.4%. The government accepted GH¢4.40 billion in bids. This auction saw a decline in interest rates across all tenors, with the 91-day bill yield falling to 4.60%, the 182-day bill to 6.27%, and the 364-day bill to 9.75%.
On the equities market, trading activity has also seen growth. While the GSE Composite Index experienced a monthly dip in September, year-to-date returns remain strong, with the index up over 60%. Recent weekly trading saw a 35.6% increase in value, largely driven by MTN Ghana, which accounted for approximately 91.5% of the total value traded during that period.
Entities
Bank of Ghana · Ghana · Ghana Stock Exchange · MTN Ghana · Ministry of Finance
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] The yield on the 182-day bill decreased to 6.27% from 6.31%. www.myjoyonline.com
- [● 2 SOURCES] The government accepted GH¢4.40 billion of the total bids. www.myjoyonline.com
- [○ 1 SOURCE] The yield on the 364-day bill dropped by 5.0 basis points to 9.75%. www.myjoyonline.com
- [○ 1 SOURCE] The Bank of Ghana received total bids of GH¢5.06 billion across 91-day, 182-day, and 364-day instruments.
- [○ 1 SOURCE] The amount accepted was 153.4% of the auction target.
- [○ 1 SOURCE] The yield on the 91-day bill declined by 4.0 basis points to 4.60%. www.myjoyonline.com