KEY HEADLINES & INSIGHTS
Ghana Legalises Cryptocurrency Trading, Opening New Era for Digital Finance
Parliament has passed a new law-making crypto trading legal, with the Bank of Ghana set to regulate and license operators. The framework aims to boost innovation and financial inclusion while protecting consumers and managing risks.
Fitch Affirms Bank of Africa at ‘BB’, Outlook Stable
Fitch Ratings has reaffirmed Bank of Africa’s long‑term issuer default rating at ‘BB’. The outlook remains stable, reflecting the bank’s resilient financial profile and consistent performance. This affirmation signals confidence in the institution’s ability to manage risks despite regional economic pressures.
First Atlantic Bank Breaks 7-Year IPO Drought on Ghana Stock Exchange
First Atlantic Bank PLC has become the first company in over seven years to launch an initial public offering (IPO) on the Ghana Stock Exchange (GSE), ending an 87-month pause in main board equity listings. Its shares debuted at GH₵7.3 after an oversubscribed offer, signaling renewed investor confidence.
Ghana Gold Coin Pricing Update
1 oz Now Selling at GH₵51,551.81 with 0.50 oz at GH₵26,129.89
and 0.25 oz at GH₵13,442.43 as of 19th December 2025. (Bank of Ghana, 2025)
PRIMARY DEBT MARKET ISSUANCE WEEK
Yields on Government of Ghana (GoG) treasury bills posted marginal bearish performance across the tenors last week. The 91-day bill decrease marginally by 2 basis points to 11.09%, the 364-day bill by 6 basis points to 12.91%, and the 182-day decreased by 11 basis points, settling at 12.44%.
| Security | Current Wk % | Previous Wk% |
|---|---|---|
| 91-Day GoG Bill | 11.0887 | 11.1108 |
| 182-Day GoG Bill | 12.4358 | 12.5421 |
| 364-Day GoG Bill | 12.9132 | 12.9704 |
Source(s): Bank of Ghana
GHANA FIXED INCOME MARKET VOLUME TRADED
The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵10.02 billion at the week's close, reflecting an increase from the GH₵7.19 billion reported in the previous week. The total number of transactions recorded was 4,978, with Treasury bills dominating the market and accounting for 91.70% of the trades. Meanwhile, New GoG Notes & Bonds posting 5.73% to the total trading activity.
Daily Volume (GHS) Traded – GFIM
Week's Yield Curve
EQUITY MARKET
Trading activity on the local stock exchange turned bearish this week, with total share volume decreased by 48% to 13,702,216 shares, from 26,553,452 shares posted the previous week. However, the total traded value surged by 15%, settling at GH₵53.76million compared to GH₵46.74million last week, reflecting a significant increase in higher-value transactions. Market capitalization posted a 2.42% weekly gain, closing at GH₵171.85 billion, down from GH₵168.50 billion.
| Index | Level | WoW% | MoM% | YoY% |
|---|---|---|---|---|
| GSE-CI | 8,755.59 | 1.40 | 1.69 | 79.12 |
| FSI | 4,642.58 | 3.17 | 4.18 | 95 |
Source(s): Ghana Stock Exchange
Week's Equities Top Gainers & Laggards
EQUITY MARKET MOST TRADED STOCKS
| Ticker | Traded Volume | Price (GHS) |
|---|---|---|
| MTNGH | 7,013,316 | 4.19 |
| CAL | 5,258,757 | 0.65 |
| SOGEGH | 686,830 | 4.49 |
| SIC | 299,382 | 1.20 |
| ETI | 221,532 | 0.77 |
Source(s): Ghana Stock Exchange
TOP PERFORMING AFRICAN STOCK INDICES YEAR-TO-DATE
| Country | Index | Level | YTD% |
|---|---|---|---|
| Malawi | MSE ASI | 607,938.06 | 253.37 |
| Ghana | GSE-CI | 8,755.59 | 79.1 |
| Tanzania | LuSE ASI | 25,422.37 | 64.64 |
| Kenya | NSE ASI | 184.55 | 49.46 |
| Nigeria | NGX ASI | 152,057.38 | 47.73 |
Source(s): African Markets
COMMODITY MARKET
This week, the commodities market posted a mixed performance, driven by notable price fluctuations. Gold prices increased from $4,300.10 to $4,361.40 per troy ounce week-on-week (w/w). The precious metal posted a 1.43% weekly gain.
Meanwhile, Brent crude oil futures posted a 1.06% weekly loss decreasing from $61.12 to $60.47 per barrel, as rising prospects of a Russia-Ukraine peace deal offset concerns over supply disruptions from a blockade of Venezuelan oil tankers.
Cocoa futures posted a decline settling at $5,845 per ton from last week’s $6,226, posting a 6.12% weekly loss. Cocoa farmers in the Ivory Coast are reporting that a mix of rain and sunshine is helping cocoa trees bloom, and farmers in Ghana said rains have been regular and helpful to cocoa tree and pod development ahead of the harmattan season.
Source(s): Yahoo Finance, Trading Economics
CURRENCY MARKET
The Ghanaian cedi (GH₵) posted a mixed performance against major international currencies last week, underscoring continued volatility in the foreign exchange market. The local currency held steady against the US dollar (USD), depreciated by GH₵0.01 against the British pound (GBP), and appreciated by GH₵0.02 against the euro (EUR). These movements reflect marginal yet noteworthy shifts across key trading pairs.
Source(s): Bank of Ghana
