Govt secures GH¢3.1bn in 7-year bond auction
Government has secured GH¢3.1 billion in bids from investors in its first 7-year cedi-denominated bond auction following the Domestic Debt Exchange Programme (DDEP).
Based on the summary issuance report seen by JOYBUSINESS, government accepted GH¢2.7 billion out of the total bids.
Authorities also agreed to pay a coupon rate of 12.5% on the bond, which matures on March 29, 2033.
Analysts and industry watchers who spoke to JOYBUSINESS described the outcome as favourable and reflective of current market conditions.
They noted that the coupon rate is slightly better than the rate prevailing in the secondary market, where pre-DDEP bonds are currently trading.
Settlement for successful bids is scheduled for April 7, 2026.
The bond is also expected to be listed on the Ghana Stock Exchange to support active trading.
The results are seen as a key step in reopening the domestic bond market, potentially paving the way for government to resume active long-term borrowing to finance development projects.
Government plans to raise GH¢15.231 billion through treasury bills and bonds between March and June 2026.
The funds are expected to support budget implementation and roll over existing debt maturities.
Authorities also aim to build benchmark bonds through these issuances. “It is expected that the Issuance Calendar for March to June 2026 will provide market participants with clear guidance to inform their investment decisions.”
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