KEY HEADLINES & INSIGHTS
The Securities and Exchange Commission (SEC) has directed all online investment and trading platforms, fintech service providers, and market operators to register and obtain the appropriate licences by August 31, 2026, or face sanctions. The move aims to strengthen investor protection, curb unregulated online investment activities, and ensure compliance with Ghana's securities regulations.
The Bank of Ghana (BoG) has urged journalists to go beyond reporting economic statistics by explaining their real-life impact on people, businesses and livelihoods. During a three-day media training programme in Koforidua, the BoG encouraged accurate, balanced and responsible reporting on monetary policy and economic issues, emphasizing that well-informed journalism helps citizens make better decisions and strengthens public confidence in economic policies.
European jet fuel prices have fallen sharply following a preliminary US-Iran peace deal, reducing geopolitical risk. However, concerns over low fuel inventories, declining US exports to Europe, and strong summer travel demand could tighten supplies and lead to potential shortages in the coming months, particularly in August.
The Bank of Ghana has introduced a “three strikes” rule for dud cheques, where offenders face escalating penalties: a 10% levy for the first offence, 15% for the second, and a 20% levy plus a 3-year cheque ban and credit restrictions for third-time offenders. The move is aimed at improving trust in cheque-based transactions and strengthening payment system discipline.
PRIMARY DEBT MARKET ISSUANCE
WEEK
Yields on Government of Ghana Treasury bills increased across all tenors this week, reflecting reduced investor demand and continued market yield repricing. The 91-day bill rose to 5.73%(+42.75bps), the 182-day bill increased to 7.69%(+56.16bps), while the 364-day bill climbed sharply to 12.82%(+146.06bps), recording the largest increase as investors demanded higher returns for longer maturities.
| Security | Current Wk % | Previous Wk % |
|---|---|---|
| 91-Day GoG Bill | 5.7329 | 5.3054 |
| 182-Day GoG Bill | 7.6933 | 7.1317 |
| 364-Day GoG Bill | 12.8218 | 11.3612 |
Source(s): Bank of Ghana
GHANA FIXED INCOME MARKET VOLUME TRADED
The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵8.85 billion across 4,219 transactions during the week, as investors maintained a preference for liquid, short-term government securities amid evolving market conditions. Market activity was dominated by Treasury Bills, which accounted for 69.53% of total trading volume and 93.01% of transactions, reflecting their high liquidity and lower risk. DDEP Bonds contributed 17.77% of traded volume despite representing only 3.27% of transactions, indicating larger average trade sizes. Sell/Buy BackTrades accounted for 12.29% of total volume, while Corporate Bonds remained marginal at 0.41%. No trades were recorded in New or Old Government of Ghana Notes & Bonds during the period.
Daily Volume (GHS) Traded – GFIM
Week's Yield Curve
EQUITY MARKET
Trading activity on the local stock exchange strengthened this week, with total share volume rising to 43.21 million shares and traded value increasing to GH₵125.85 million, supported by stronger investor participation. The Financial sector led trading by value at GH₵68.29 million, while Telecommunications recorded the highest share volume at 5.49 million shares, driven by sustained activity in MTN Ghana. The Advertising and Manufacturing sectors recorded no trades during the week.
| Index | Level | WoW% | MoM% | YoY% |
|---|---|---|---|---|
| GSE-CI | 14,766.8200 | -0.017 | 2.875 | 68.374 |
| FSI | 8254.8800 | -1.671 | 5.111 | 77.632 |
| Market Cap | 288.0487 | -0.066 | 9.550 | 67.429 |
Source(s): Ghana Stock Exchange
Week's Equities Top Gainers & Laggards
EQUITY MARKET MOST TRADED STOCKS
| Ticker | Traded Volume | Price (GHS) |
|---|---|---|
| KASA | 30,446,218.00 | 1.99 |
| MTNGH | 5,490,991.00 | 6.46 |
| IIL | 3,018,398.00 | 0.16 |
| CAL | 2,578,686.00 | 0.81 |
| ETI | 504,811.00 | 2.27 |
Source(s): Ghana Stock Exchange
TOP PERFORMING AFRICAN STOCK INDICES
| Country | Index | Level | YTD % |
|---|---|---|---|
| Ghana | GSE-CI | 14,841.24 | +69.22 |
| Nigeria | NGX ASI | 235,074.54 | +51.06 |
| Zimbabwe | ZSE-ASI | 403.13 | +45.08 |
| Tanzania | DSE -ASI | 3,931.59 | +42.35 |
| Rwanda | RSE -ASI | 255.05 | +39.94 |
Source(s): African Markets
COMMODITY MARKET
Commodity markets recorded mixed performance during the week, reflecting shifting global supply-demand dynamics and investor sentiment.
Brent crude oil declined to $71.99, posting a weekly loss of 9.84% amid easing geopolitical tensions and expectations of improved oil supply.
Gold also weakened, closing at $4,078.70 with a weekly return of -3.44%, as stronger risk appetite reduced demand for safe-haven assets. In contrast, cocoa was the standout performer, rising to $5,014 with a strong weekly gain of 21.02%, supported by persistent supply concerns in major producing regions despite remaining 17.33% lower year-on-year.
Source(s): Yahoo Finance, Trading Economics
CURRENCY MARKET
The Ghanaian cedi weakened against the US dollar and euro during the week, reflecting increased demand for foreign exchange. The USD/GHS rate rose by 1.10% to GH₵11.32, recording monthly, quarterly and yearly returns of -3.50%, 3.00% and 3.85%, respectively. The EUR/GHS rate increased by 1.39% to GH₵12.91, with monthly, quarterly and yearly returns of -5.20%, 2.84% and 4.73%, respectively. Meanwhile, the GBP/GHS rate remained unchanged at GH₵14.98, posting a weekly, monthly, quarterly and yearly return of 0.00%.
Source(s): Bank of Ghana
