Investors poured GHS 1.16 billion into Ghana's Domestic Debt Exchange Programme (DDEP) bonds on Tuesday, June 9, 2026. This significant investment made DDEP bonds the largest component of trading on the Ghana Fixed Income Market (GFIM).
Total market activity on the GFIM for the day stood at GHS 2.10 billion across 230 trades. DDEP bonds alone generated GHS 1.16 billion from 25 trades. This amount represented approximately 55.1 percent of the total market volume. This heavy trading in DDEP bonds shows investors continue to adjust their financial portfolios after Ghana’s debt restructuring.
This dominance highlights the ongoing reliance on government securities within Ghana’s financial markets. The DDEP, launched in 2022, aimed to restructure a large portion of Ghana's domestic debt to manage the country's severe economic challenges. The government sought to reduce its debt burden and improve long-term financial sustainability. Sustained activity in DDEP bonds indicates that these restructured instruments remain central to the country's economic and fiscal stability. Prior data also showed a similar trend of government bonds leading market activity.
According to the daily trading report, Treasury bills followed DDEP bonds in trading volume. Treasury bills recorded GHS 703.14 million across 197 trades, making up about 33.5 percent of total activity. Sell-buy-back trades, which are short-term agreements to repurchase securities, contributed GHS 240.90 million from eight trades. This represented 11.5 percent of the day’s market volume. No trades occurred in new or old government notes and bonds, or corporate bonds. This underlines a lack of private sector involvement in the bond market.
The continued strong performance of DDEP bonds is important for Ghana’s government. It helps in Price Discovery, which means finding the true market value of these bonds. It also supports market liquidity, allowing investors to buy and sell these bonds easily. Such activity signals investor confidence in the domestic debt market. However, the market’s heavy focus on government securities also points to a need for more corporate bond issuance. This would help the private sector access long-term funding within Ghana.
Notable DDEP bonds traded included the GOG-BD-12/02/30-A6146-1838-8.80. It recorded GHS 320 million from two trades. This bond closed with a yield, or return, of 13.40 percent. Its end-of-day price was 86.90. Another significant DDEP bond was the GOG-BD-07/02/34-A6150-1838-9.40. It saw GHS 310.10 million in volume from five trades. This bond closed with a yield of 14.77 percent and a price of 75.74. The GOG-BD-11/02/31-A6147-1838-8.95 also attracted GHS 294 million across two trades. It closed at a yield of 13.65 percent and a price of 84.06.
The largest Treasury bill traded was the GOG-BL-17/05/27-A7039-2007-0. It had GHS 275.44 million in a single transaction. This bill closed with a yield of 10.42 percent and a price of 91.09. These details show that investors are actively positioning their portfolios. They are looking for good returns across different types of government securities. The fixed income market will likely continue to revolve around these government-backed instruments.