KEY HEADLINES & INSIGHTS

Monetary Policy & Inflation: The BoG has slashed the Policy Rate to 14.0% by March 2026, down from 30% in 2023, signaling a shift toward encouraging business expansion. Inflation has dramatically decreased to 3.30% in February 2026.

Ghana Stock Exchange (GSE): The GSE is experiencing high activity, with a recent trading session showing a 105% improvement in turnover and a year-to-date gain exceeding 60%, reflecting high investor confidence.

Currency Performance: The Ghanaian Cedi has shown resilience, appreciating by over 40% against the US dollar since 2025, largely due to better macroeconomic stability.

Banking Sector Stability: Banks are recording increased profits, with 2025 profitability reaching GH¢15 billion, driven by improved operating costs and lower impairment charges.

Debt Restructuring & Fiscal Policy: The Ministry of Finance has successfully signed 11 bilateral debt restructuring agreements (including EXIM India) and is continuing aggressive payroll reforms, removing over 67,000 ghost names.

Key Risks: Despite improvements, experts warn of potential risks from international volatility, such as recent, albeit temporary, oil price fluctuations, and the need to manage high levels of debt-to-GDP.

PRIMARY DEBT MARKET ISSUANCE WEEK

Yields on Government of Ghana (GoG) treasury bills showed mixed movements across the curve in the current week. The 91-day bill declined marginally by 2.36 basis points to 4.9244%, indicating continued stability in short-term borrowing costs. In contrast, the 182-day bill inched up by 5.31 basis points to 6.9630%, suggesting a slight uptick in medium-term rates. Meanwhile, the 364-day bill remained broadly stable, easing by 0.44 basis points to 10.1239%.

SecurityCurrent Wk%Previous Wk%
91 - Day GoG Bill4.92444.9480
182 - Day GoG Bill6.96306.9099
364 - Day GoG Bill10.123910.1283

Source(s): Bank of Ghana

GHANA FIXED INCOME MARKET VOLUME TRADED

The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵2.24 billion at the week's close, reflecting a sharp decline from the GH₵8.7 billion reported in the previous week. The total number of transactions recorded was 1,871, with the trades. Meanwhile, New Government of Ghana (GoG) Notes and Bonds contributed 0.69%, DDEP Bonds contributed 24.22 to the total trading activity.

library(ggplot2) library(dplyr) # Recreate data from your chart data <- data.frame( Security = c("GCB","SCB","RBGH","SOGEGH","MTNGH","ETI","CAL","GOIL","EGH","GLD","EGL","FML","BOPP"), Value = c(33.8, 20.6, 18.2, 11.5, 7.7, 5.2, 3.5, 0.4, 0.0, -1.2, -1.9, -2.8, -5.5) ) # Sort data data <- data %>% arrange(Value) %>% mutate(Security = factor(Security, levels = Security)) # Plot ggplot(data, aes(x = Value, y = Security)) + geom_col(fill = "#6b002c") + # dark maroon color geom_text(aes(label = paste0(Value, "%")), hjust = ifelse(data$Value >= 0, -0.1, 1.1), size = 3) + labs( title = NULL, x = NULL, y = NULL ) + theme_minimal() + theme( axis.text.y = element_text(size = 10), axis.text.x = element_blank(), panel.grid.major.y = element_blank() ) + coord_cartesian(xlim = c(min(data$Value) - 2, max(data$Value) + 2))