KEY HEADLINES & INSIGHTS
Oil prices declined and global stock markets rallied after the US and Iran reached a framework agreement to end their conflict and reopen the Strait of Hormuz, a critical global oil shipping route. The news triggered a 4.7% drop in Brent crude to $83.24 per barrel, reflecting easing supply risk concerns in the energy market. Investor sentiment improved, pushing Asian and European stocks higher. The deal, mediated by Pakistan, is set for formal signing on June 19, 2026, in Switzerland, signaling a possible easing of geopolitical tensions that had previously kept oil prices elevated.
The Bank of Ghana (BoG) has instructed banks, payment service providers, and other regulated financial institutions to stop supporting any arrangements that enable unauthorized fiat currency wallet services offered by crypto platforms in Ghana. The directive targets foreign currency denominated wallet systems, particularly in US dollars, which are facilitated through local payment channels such as bank transfers and cards.
Finance Minister Cassiel Ato Forson has tasked the new Internal Audit Agency board to review its Act and drive reforms to cut waste, strengthen controls, and improve public sector accountability, citing recurring Auditor-General findings as evidence of weaknesses in Ghana’s financial management system.
The Bank of Ghana has extended the registration deadline for International Money Transfer Operators (IMTOs) to July 31, 2026, providing existing operators with additional time to comply with registration requirements and submit the necessary documentation. The extension follows guidelines issued in January 2026 governing the registration and operations of IMTOs in Ghana.
PRIMARY DEBT MARKET ISSUANCE WEEK
Yields on Government of Ghana treasury bills rose across all tenors this week. The 91-day and 364-day bills rose by 3.07 and 13.73 basis points to 5.04% and 10.98%, respectively, while the 182-day bill declined marginally by 1.44 basis points to 7.08%, largely attributable to stronger investor demand and evolving market preferences across different tenors. The 364-day bill recorded the largest increase during the week.
| Security | Current Wk % | Previous Wk % |
|---|---|---|
| 91-Day GoG Bill | 5.0423 | 5.0116 |
| 182-Day GoG Bill | 7.0804 | 7.0948 |
| 364-Day GoG Bill | 10.9761 | 10.8388 |
Source(s): Bank of Ghana
GHANA FIXED INCOME MARKET VOLUME TRADED
The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵12.02 billion across 7,865 transactions during the week. DDEP Bonds dominated trading activity, accounting for 59.61% of total volume, followed by Treasury Bills with 32.86%. In terms of transaction count, Treasury Bills led the market, contributing 95.19% of total trades, while DDEP Bonds accounted for 3.94%.Sell/Buy Back Trades on all GoG Notes & Bonds and Corporate Bonds contributed 4.07% and 3.47% of total volume, respectively, whereas New GoG Notes & Bonds and Old GoG Notes & Bonds recorded no trading activity during the week.
Daily Volume (GHS) Traded – GFIM
Week's Yield Curve
EQUITY MARKET
Trading activity on the local stock exchange was bullish this week, with share volume rising 67.51% to 18.40 million shares from 10.98 million shares the previous week, while traded value increased 80.01% to GH₵163.25 million from GH₵90.69 million. Telecommunications led by volume with 7.99 million shares, while financial stocks dominated by value at GH₵69.87 million. Most sectors recorded trading activity, with only Advertising posting no trades during the week.
| Index | Level | WoW% | MoM% | YoY% |
|---|---|---|---|---|
| GSE-CI | 14442.0200 | 0.998 | 0.612 | 64.671 |
| FSI | 8227.7100 | 3.998 | 4.765 | 77.048 |
| Market Cap | 275.7184 | 3.896 | 4.861 | 60.262 |
Source(s): Ghana Stock Exchange
Week's Equities Top Gainers & Laggards
EQUITY MARKET MOST TRADED STOCKS
| Ticker | Traded Volume | Price (GHS) |
|---|---|---|
| MTNGH | 7,993,103.00 | 6.42 |
| CAL | 4,413,402.00 | 0.77 |
| ZEN | 2,191,865.00 | 10.00 |
| GCB | 1,719,522.00 | 36.00 |
| ETI | 845,503.00 | 2.09 |
Source(s): Ghana Stock Exchange
TOP PERFORMING AFRICAN STOCK INDICES
| Country | Index | Level | YTD % |
|---|---|---|---|
| Ghana | GSE-CI | 14,442.02 | 64.67 |
| Nigeria | NGX ASI | 244,852.21 | 57.35 |
| Zimbabwe | ZSE-ASI | 397.30 | 42.99 |
| Tanzania | DSE -ASI | 397.30 | 42.20 |
| Rwanda | RSE -ASI | 255.05 | 39.94 |
Source(s): African Markets
COMMODITY MARKET
This week, the commodities market recorded mixed performance during the week. Brent crude oil closed at $87.33, posting a weekly loss of 6.19%, while its monthly and quarterly returns remained negative at 5.13% and 26.21%, respectively. However, Brent maintained a strong year-to-date gain of 43.52%.
Gold ended the week at $4,215, declining by 2.82% on a weekly basis. The precious metal also recorded negative returns over the month (-7.58%), quarter (-9.31%), and year (-2.56%), reflecting persistent downward pressure.
In contrast, cocoa closed at $3,779, registering a modest weekly gain of 0.45% despite negative monthly returns (-3.67%). The commodity remained strong on a quarterly basis with a 14.52% return, although it was down 37.69% compared to the same period last year.
Source(s): Yahoo Finance, Trading Economics
CURRENCY MARKET
The Ghanaian cedi showed mixed performance against the major trading currencies as of June 15, 2026. The USD/GHS rate remained unchanged at GH₵11.00, recording a weekly return of 0.00%. The cedi appreciated against the euro, with the EUR/GHS rate declining 0.55% week-on-week to GH₵12.76. Meanwhile, the GBP/GHS rate remained stable at GH₵14.79, posting no movement over the week.
Source(s): Bank of Ghana
