KEY HEADLINES & INSIGHTS
Ghana’s Economy Activity Grows 3.8% in October 2025, Driven by Services Sector
Economic activity, according to the Monthly Indicator of Economic Growth (MIEG) rose 3.8% year-on-year in October 2025, led by a 5.5% expansion in services, which contributed 2.8 percentage points to total growth. Industry grew 3.0%, while agriculture posted a modest 0.9% gain, mainly from improved fishing output .
Ghana Ends Mining Stability Agreements
Ghana plans to scrap long‑term mining stability pacts and introduce a new royalty regime starting at 9% and rising to 12% when gold prices surge, aiming to boost state revenue and strengthen local content rules. The reforms will end existing agreements with Newmont, AngloGold Ashanti and Gold Fields as the government pushes for greater value retention in the country
Ghana to Roll Out AI System to Curb Import Fraud from February 2026
Ghana’s Revenue Authority will deploy an AI‑powered trade analytics system at Tema Port starting February 1, 2026 to detect undervaluation, misclassification, and other import fraud, aiming to boost customs revenue by up to 45% while speeding up legitimate cargo clearance
Ghana Gold Coin Pricing Update
1 oz Now Selling at GH₵51,427.94 with 0.50 oz at GH₵26,057.20 and 0.25 oz at GH₵13,393.92 as of 8th January 2026. (Bank of Ghana, 2025)
PRIMARY DEBT MARKET ISSUANCE WEEK
Yields on Government of Ghana (GoG) treasury bills posted marginal bullish performance across the tenors last week. The 91-day bill increase marginally by 2 basis points to 11.19%, the 182-day bill by 3 basis points to 12.65%, and the 364-day marginally by 8 basis points, settling at 12.98%.
| Security | Current Wk % | Previous Wk % |
|---|---|---|
| 91-Day GoG Bill | 11.1946 | 11.1706 |
| 182-Day GoG Bill | 12.6485 | 12.6154 |
| 364-Day GoG Bill | 12.9807 | 12.9021 |
Source(s): Bank of Ghana
GHANA FIXED INCOME MARKET VOLUME TRADED
The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵9.37 billion at the week's close, reflecting an increase from the GH₵3.76 billion reported in the previous week. The total number of transactions recorded was 1,791, with Treasury bills dominating the market and accounting for 85.54% of the trades. Meanwhile, New GoG Notes & Bonds posting 7.82% to the total trading activity.
Daily Volume (GHS) Traded – GFIM
Week's Yield Curve
EQUITY MARKET
Trading activity on the local stock exchange turned bullish this week, with total share volume increased by 105% to 44,196,397 shares, from 21,546,466 shares posted the previous week. The total traded value increased by 110%, settling at GH₵189.20 million compared to GH₵90.04million last week, reflecting a significant increase in higher-value transactions.
| Index | Level | WoW% | MTD% | YTD% |
|---|---|---|---|---|
| GSE-CI | 8811.11 | 0.04 | 0.47 | 0.47 |
| FSI | 4687.52 | 0.39 | 0.87 | 0.87 |
| Market Cap | 176.23 | 3.31 | 2.44 | 2.44 |
Source(s): Ghana Stock Exchange
Week's Equities Top Gainers & Laggards
EQUITY MARKET MOST TRADED STOCKS
| Ticker | Traded Volume | Price (GHS) |
|---|---|---|
| MTNGH | 41,673,846 | 4.20 |
| CAL | 913,283 | 0.64 |
| GCB | 404,477 | 20.16 |
| SIC | 358,822 | 1.20 |
| CLYD | 325,350 | 0.50 |
Source(s): Ghana Stock Exchange
TOP PERFORMING AFRICAN STOCK INDICES
| Country | Index | Level | YTD% |
|---|---|---|---|
| Zimbabwe | ZSE ASI | 360.41 | 29.71 |
| Tanzania | DSE ASI | 3,045.58 | 10.27 |
| Nigeria | NGX ASI | 166,129.50 | 6.76 |
| Kenya | NSE ASI | 193.87 | 3.91 |
| South Africa | JSE ASI | 120,169.70 | 3.74 |
Source(s): African Markets
COMMODITY MARKET
This week, the commodities market posted a mixed performance, driven by notable price fluctuations. Gold prices increased from $4,490.3 to $4,588.4 per troy ounce week-on-week (w/w). The precious metal posted a 2.18% weekly gain.
Meanwhile, Brent crude oil futures posted a 1.25% weekly gain increasing from $63.34 to $64.13 per barrel, as traders weighed lingering geopolitical risks against easing fears of an immediate US strike on Iran. Prices had hit multi-month highs earlier after protests in Iran and the threat of potential military action raised concerns over disruptions to the country’s roughly 3.3 million barrels-per-day output.
Cocoa futures posted a plunged settling at $5,076 per ton from last week’s $5,345, posting 5.03% weekly loss. It brings cocoa back above the $5,000-mark after three straight days of losses sent it tumbling 9% to around $4,900 per ton. Concerns about cocoa demand are behind the drop-off.
Source(s): Yahoo Finance, Trading Economics
CURRENCY MARKET
The Ghanaian cedi (GH₵) recorded notable depreciation against major international currencies last week, reflecting ongoing volatility in the foreign exchange market. The local currency depreciated by GH₵0.12 against the US dollar (USD), declined by GH₵0.10 against the British pound (GBP), and depreciated GH₵0.07against the euro (EUR).
Source(s): Bank of Ghana
