KEY HEADLINES & INSIGHTS
Bank of Ghana to Reform Gold Purchase Programme in 2026
The Bank of Ghana will overhaul its Domestic Gold Purchase Programme to boost sustainability, improve pricing transparency, and strengthen macroeconomic stability. The reforms will empower the Ghana Gold Board to reduce intermediary costs and enhance value retention from small-scale miners as well as align with national fiscal and resource management priorities.
CRC Seeks End to Mandatory Retirement at 60
Ghana’s Constitutional Review Committee proposes removing the compulsory retirement age of 60, arguing it no longer reflects modern realities. The change would allow institutions like universities to extend working years up to 70 and give Parliament flexibility to adjust retirement rules
IMF Praises Ghana’s Economic Progress, Dismisses Gold Loss Claims
A new Bank of Ghana release highlights IMF commendation of Ghana’s macroeconomic gains while rejecting reports of alleged gold losses as speculative and unfounded. The statement reinforces confidence in the country’s fiscal and resource management.
Ghana Gold Coin Pricing Update
1 oz Now Selling at GH₵52,083.01 with 0.50 oz at GH₵26,392.79
and 0.25 oz at GH₵13,570.82 as of 24th December 2025. (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 0.3 basis points to 11.09%, the 364-day bill by 3 basis points to 12.94%, and the 182-day by 9 basis points, settling at 12.52%.
| Security | Current Wk% | Previous Wk% |
|---|---|---|
| 91-Day GoG Bill | 11.0912 | 11.0887 |
| 182-Day GoG Bill | 12.5249 | 12.4358 |
| 364-Day GoG Bill | 12.9407 | 12.9132 |
Source(s): Bank of Ghana
GHANA FIXED INCOME MARKET VOLUME TRADED
The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵4.53 billion at the week's close, reflecting a decrease from the GH₵10.02 billion reported in the previous week. The total number of transactions recorded was 1,964, with Treasury bills dominating the market and accounting for 87.58% of the trades. Meanwhile, New GoG Notes & Bonds posting 9.37% 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 172% to 37,160,341 shares, from 13,702,216 shares posted the previous week. However, the total traded value surged by 193%, settling at GH₵157.51 million compared to GH₵53.76million last week, reflecting a significant increase in higher-value transactions. Market capitalization posted a 0.01% weekly marginal gain, closing at GH₵171.86 billion, down from GH₵171.85 billion.
| Index | Level | WoW% | MoM% | YoY% |
|---|---|---|---|---|
| GSE-CI | 8,755.97 | 0.0 | 1.69 | 79.11 |
| FSI | 4,628.69 | -0.30 | 3.87 | 94.42 |
Source(s): Ghana Stock Exchange
Week's Equities Top Gainers & Laggards
EQUITY MARKET MOST TRADED STOCKS
| Ticker | Traded Volume | Price (GHS) |
|---|---|---|
| MTNGH | 33,693,743 | 4.20 |
| CAL | 2,855,560 | 0.60 |
| ETI | 310,900 | 0.77 |
| SIC | 116,153 | 1.20 |
| FAB | 63,269 | 7.71 |
Source(s): Ghana Stock Exchange
TOP PERFORMING AFRICAN STOCK INDICES YEAR-TO-DATE
| Country | Index | Level | YTD% |
|---|---|---|---|
| Malawi | MSE ASI | 597,004.30 | 247.01 |
| Ghana | GSE-CI | 8,755.97 | 79.11 |
| Tanzania | LuSE ASI | 25,706.32 | 66.48 |
| Kenya | NSE ASI | 153,539.83 | 49.17 |
| Nigeria | NGX ASI | 183.98 | 49 |
Source(s): African Markets
COMMODITY MARKET
This week, the commodities market posted a marginal bullish performance, driven by notable price fluctuations. Gold prices increased from $4,361.40 to $4529.1 per troy ounce week-on-week (w/w). The precious metal posted a 3.85% weekly gain.
Meanwhile, Brent crude oil futures posted a 0.28% weekly gain marginally increasing from $60.47 to $60.64 per barrel, as markets reacted to signs of progress in long-stalled Ukraine peace talks that could eventually allow more Russian oil to return to global markets already facing oversupply.
Cocoa futures posted an increase settling at $5,953 per ton from last week’s $5,845, posting a 1.85% weekly gain. Cocoa prices have underlying support from expectations for index-related buying tied to the addition of cocoa futures to the Bloomberg Commodity Index (BCOM) starting in January.
Source(s): Yahoo Finance, Trading Economics
CURRENCY MARKET
The Ghanaian cedi (GH₵) recorded notable gains against major international currencies last week, reflecting ongoing volatility in the foreign exchange market. The local currency appreciated by GH₵0.39 against the US dollar (USD), strengthened by GH₵0.36 against the British pound (GBP), and gained GH₵0.40 against the euro (EUR).
Source(s): Bank of Ghana
