KEY HEADLINES & INSIGHTS
Ghana's financial markets recorded a mixed performance for the week ending June 8, 2026, amid rising global uncertainty. The IMF revised its 2026 global growth forecast down to 3.1% from 3.3%, driven by Middle East tensions that have disrupted trade flows and elevated commodity prices. Domestically, headline inflation edged up to 3.7% in May, prompting the Bank of Ghana to hold its Monetary Policy Rate at 14%, with reserves rising to $14.4 billion, equivalent to 5.7 months of import cover.
Treasury bill yields rose across all tenors, with the 91-day, 182-day, and 364-day bills increasing by 2.15, 5.14, and 37.95 basis points to 5.01%, 7.09%, and 10.84% respectively. The Ghana Fixed Income Market recorded a total trading volume of GH₵5.94 billion across 1,889 transactions, with Treasury Bills dominating at 49.29% of volume, followed by DDEP Bonds at 26.93% and Sell/Buy Back Trades at 23.09%.
The local equity market turned bearish, with share volume declining 37.33% to 10,984,499 shares and traded value falling 19.52% to GH₵90.69 million. The GSE-CI closed at 14,299.32, down 0.41% week-on-week but up 63.04% year-to-date, while the FSI gained 70.24% year-to-date. Telecommunications and Financial sectors led trading activity, while Advertising and Manufacturing recorded no trades.
The Securities and Exchange Commission (SEC) announced efforts to unlock billions of dollars in diaspora capital for Ghana's capital market, a move aimed at deepening liquidity and broadening the investor base. Combined with improving macroeconomic fundamentals and renewed investor confidence, this is expected to channel significant inflows into both the equity and fixed income markets.
PRIMARY DEBT MARKET ISSUANCE WEEK
Yields on Government of Ghana treasury bills rose across all tenors this week. The 91-day, 182-day, and 364-day bills increased by 2.15, 5.14, and 37.95 basis points to 5.01%, 7.09%, and 10.84% respectively, with the 364-day bill recording the sharpest rise.
| Security | Current Wk % | Previous Wk % |
|---|---|---|
| 91-Day GoG Bill | 5.0116 | 4.9901 |
| 182-Day GoG Bill | 7.0948 | 7.0434 |
| 364-Day GoG Bill | 10.8388 | 10.4593 |
Source(s): Bank of Ghana
GHANA FIXED INCOME MARKET VOLUME TRADED
The Ghana Fixed Income Market (GFIM) recorded a total trading volume of GH₵5.94 billion at the week's close, with a total0f1,889 transactions. Treasury Bills dominated activity, contributing 49.29% of volume and 84.22% of transactions. DDEP Bonds posted 26.93% of volume and 6.72% of transactions, while Sell/Buy Back Trades on all GoG Notes & Bonds accounted for 23.09% of volume and 7.15% of transactions. Corporate Bonds contributed 0.41% of volume and 1.43% of transactions, and New GoG Notes & Bonds recorded 0.28% of volume and 0.48% of transactions, with Old GoG Notes & Bonds posting no activity for the week.
Daily Volume (GHS) Traded – GFIM
Week's Yield Curve
EQUITY MARKET
Trading activity on the local stock exchange turned bearish this week, with share volume declining 37.33% to 10,984,499 shares from 17,530,068 the previous week, while traded value fell 19.52% to GH₵90.69 million from GH₵112.66 million. Telecommunications led with 7,571,688 shares valued at GH₵49.19 million, followed by financial stocks with 2,830,176 shares at GH₵34.55 million. Oil & Gas, Mining, Agriculture, Insurance, Food & Beverage, and Healthcare posted modest activity, while Advertising and Manufacturing recorded no trades.
| Index | Level | WoW% | MoM% | YoY% |
|---|---|---|---|---|
| GSE-CI | 14299.3200 | -0.382 | -0.382 | 63.043 |
| FSI | 7911.4400 | 0.738 | 0.738 | 70.242 |
| Market Cap | 265.3782 | 0.928 | 0.928 | 54.251 |
Source(s): Ghana Stock Exchange
Week's Equities Top Gainers & Laggards
EQUITY MARKET MOST TRADED STOCKS
| Ticker | Traded Volume | Price (GHS) |
|---|---|---|
| MTNGH | 7,571,688.00 | 6.48 |
| CAL | 1,332,184.00 | 0.77 |
| GCB | 879,341.00 | 36.00 |
| ETI | 554,507.00 | 1.57 |
| ZEN | 206,114.00 | 10.04 |
Source(s): Ghana Stock Exchange
TOP PERFORMING AFRICAN STOCK INDICES
| Country | Index | Level | YTD % |
|---|---|---|---|
| Ghana | GSE-CI | 14,354.14 | 63.67 |
| Nigeria | NGX ASI | 250,385.47 | 60.90 |
| Tanzania | DSE-ASI | 3,935.48 | 42.49 |
| Zimbabwe | ZSE -ASI | 389.26 | 40.09 |
| Rwanda | RSE -ASI | 255.05 | 39.94 |
Source(s): African Markets
COMMODITY MARKET
This week, the commodities market posted a broadly bearish performance across all three tracked assets. Brent crude oil opened at approximately $95.00 on June 1, rising to a weekly high of around $97.00 on June 3, before retreating sharply to close at approximately $94.00 by June 5, posting a marginal week-on-week loss.
Gold prices similarly trended lower over the week, opening at around $4,460 on June 1 and holding relatively steady through June 2, before dipping to approximately $4,430 on June 3, recovering briefly to $4,460 on June 4, then declining sharply to close near $4,350 by June 5, reflecting a notable weekly loss for the precious metal.
Cocoa futures mirrored the broader bearish tone, opening at approximately $3,900 on June 1 and rising modestly to a weekly high of around $4,050 on June 2, before retreating steadily through the remainder of the week, closing sharply lower at approximately $3,800 by June 5. Price action remained under pressure amid ongoing concerns over global supply dynamics and subdued demand.
Source(s): Yahoo Finance, Trading Economics
CURRENCY MARKET
The Ghanaian cedi depreciated against the US dollar and euro as of June 8, 2026, with the USD/GHS and EUR/GHS rates settling at GH₵11.83 and GH₵13.64, posting weekly returns of 0.25% and 0.13% respectively. The GBP/GHS rate held steady at GH₵15.78, recording no movement across all periods.
Source(s): Bank of Ghana
