The Bank of Ghana has announced a new issuance of Ghana cedi-denominated Treasury bonds, inviting investors to participate in a 7-year instrument set to mature in 2033, as government steps up domestic financing efforts.
According to an official notice, the bond, classified as a senior unsecured security, will be issued by the Republic of Ghana under a book-building process that opened on Monday, March 30, 2026. Initial pricing guidance was released the same day, with the offer period expected to close around 3:00 p.m. on Wednesday, April 7, 2026.
The issuance, which is yet to have a confirmed size, adopts a single clearing yield methodology. Investors are required to submit bids on a yield basis, with all successful bids clearing at a uniform level. In the event of oversubscription, allocation will be made at the discretion of the issuer at the clearing yield.
The bonds will be repaid on a bullet basis, meaning principal will be settled in full at maturity in 2033. Each bond carries a face value of one Ghana cedi, with a minimum bid set at GHS50,000 and increments of GHS1,000 thereafter.
The offer is primarily targeted at resident investors but remains open to non-resident participation, reflecting ongoing efforts to deepen Ghana’s domestic debt market and attract foreign interest.
The securities will be listed on the Ghana Stock Exchange, with a consortium of active bond market specialists, including Absa, CalBank, Fincap, GCB, OA, and Stanbic supporting the transaction.
Final pricing and allocation are expected to be determined following the close of the book-build, with settlement scheduled shortly thereafter.
