KEY HEADLINES & INSIGHTS
Bank of Ghana Limits Extensions for Export Letters of Commitment to Boost Forex Discipline
The Bank of Ghana now allows only one 60-day extension for export Letters of Commitment, enforcing a 120-day repatriation deadline. Exporters failing to comply face fines or jail time. The directive aims to strengthen forex discipline and transparency.
GEXIM Pledges Support for Volta Region’s Economic Transformation
GEXIM CEO Sylvester Mensah pledged support for agro-processing, tourism, and logistics in the Volta Region to drive Ghana’s 24-Hour Economy. At the Volta Economic Forum, he emphasized targeted investment and public-private collaboration. The bank will fund key infrastructure and industries to unlock the region’s growth potential.
Ghana Eyes Oil-for-Renewables Deal with India
Ghana plans to boost oil exports to India in exchange for renewable energy support, aiming for 10% green energy by 2030. Energy Minister John Jinapor highlighted the move at the ISA Assembly in New Delhi. The partnership seeks to accelerate Ghana’s clean energy transition.
Ghana Gold Coin Pricing Update
1 oz Now Selling at GH₵ 45,017.68 with 0.50 oz at GH₵22,853.02
and 0.25 oz at GH₵11,792.89 as of 31st October 2025. (Bank of Ghana, 2025)
PRIMARY DEBT MARKET ISSUANCE WEEK
Yields on Government of Ghana (GoG) treasury bills posted marginal increase across the tenors last week. The 91-day bill increased marginally by 14 basis points to 10.82%, the 364-day bill by 7 basis points to 12.95%, while the 182-day marginally increased by 3 basis points, settling at 12.50%.
| Security | Current Wk % | Previous Wk % |
|---|---|---|
| 91-Day GoG Bill | 10.8158 | 10.6747 |
| 182-Day GoG Bill | 12.4970 | 12.4683 |
| 364-Day GoG Bill | 12.9517 | 12.8778 |
Source(s): Bank of Ghana
GHANA FIXED INCOME MARKET VOLUME TRADED
The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵2.65 billion at the week's close, reflecting a decrease from the GH₵4.39 billion reported in the previous week. The total number of transactions recorded was 1,256, with Treasury bills dominating the market and accounting for 87.66% of the trades. Meanwhile, New Government of Ghana (GoG) Notes and Bonds contributed 6.53% 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 104% to 10,527,983 shares, from 5,153,373 shares posted the previous week. The total traded value increased by 218%, settling at GH₵40.65 million compared to GH₵12.79 million last week, reflecting a significant increase in higher-value transactions. Market capitalization posted a 0.01% weekly gain, closing at GH₵166.54 billion, up from GH₵166.52 billion.
| Index | Level | WoW% | MoM% | YoY% |
|---|---|---|---|---|
| GSE-CI | 8,385.35 | 0.22 | 2.66 | 71.53 |
| FSI | 4,193.90 | 2.34 | 10.39 | 76.16 |
Source(s): Ghana Stock Exchange
Week's Equities Top Gainers & Laggards
EQUITY MARKET MOST TRADED STOCKS
| Ticker | Traded Volume | Price (GHS) |
|---|---|---|
| MTNGH | 8,586,648 | 4.20 |
| CAL | 873,573 | 0.49 |
| ETI | 293,207 | 0.99 |
| SIC | 246,011 | 1.20 |
| SOGEGH | 190,996 | 3.41 |
Source(s): Ghana Stock Exchange
TOP PERFORMING AFRICAN STOCK INDICES YEAR-TO-DATE
| Country | Index | Level | YTD% |
|---|---|---|---|
| Malawi | MSE ASI | 602,600.89 | 250.27 |
| Ghana | GSE-CI | 8,385.35 | 71.53 |
| Tanzania | LuSE ASI | 25,441.23 | 64.77 |
| Kenya | NSE ASI | 188.29 | 52.49 |
| Nigeria | NGX ASI | 154,126.45 | 49.74 |
Source(s): African Markets
COMMODITY MARKET
This week, the commodities market posted a bearish performance, driven by notable price fluctuations. Gold prices decreased from $4,118.40 to $3,982.20 per troy ounce week-on-week (w/w). The precious metal posted a 3.31% weekly loss.
Meanwhile, Brent crude oil futures posted a 1.32% weekly loss decreasing from $65.94 to $65.07 per barrel, as concerns of military escalation in Venezuela momentarily outweighed the view of an oversupplied energy market.
Cocoa futures posted a decline settling at $6,151 per ton from last week’s $6,319, posting a 2.66% weekly loss. Cocoa prices have been under pressure over the past two months, posting an 8.75-month low in the nearest futures contract earlier this month amid fears that high cocoa prices and tariffs could dampen chocolate demand.
Source(s): Yahoo Finance, Trading Economics
CURRENCY MARKET
The Ghanaian cedi (GH₵) recorded a mixed performance against major international currencies last week, reflecting ongoing volatility in the foreign exchange market. The local currency weakened by GH₵0.05 against the US dollar (USD), but strengthened by GH₵0.12 against the euro (EUR) and GH₵0.04 against the British pound (GBP). These movements highlight marginal but notable shifts across key trading pairs.
Source(s): Bank of Ghana
