Bonds issued under Ghana’s Domestic Debt Exchange Programme (DDEP) made up 62.5 per cent of GH¢1.59 billion traded on the Ghana Fixed Income Market on 29 September 2026.
Investors traded GH¢1,594.2 million across 297 deals on the Ghana Fixed Income Market (GFIM), according to the day’s trading report. DDEP bonds accounted for GH¢996.4 million in just 27 trades. That is an unusual share for securities that usually trail Treasury bills. In the week to 7 September, for example, DDEP bonds made up about 23 per cent of GFIM turnover.
One bond drove most of the activity. The DDEP note maturing on 13 February 2029, which carries an 8.65 per cent coupon, changed hands for GH¢601.2 million across seven deals. That single security represented almost 38 per cent of everything traded on the market during the session. Its yield rose to 13.74 per cent from 13.63 per cent, and it closed at a price of 89.92.
Other DDEP bonds also drew large trades. The 2028 bond recorded GH¢147.5 million and the 2032 bond GH¢138.1 million, while the 2035 bond saw GH¢48.4 million.
The DDEP bonds are the securities investors received in 2023, when the government swapped its domestic debt for new bonds with longer maturities and lower coupons. The exchange hit the market hard. Annual GFIM turnover fell from GH¢230 billion in 2022 to GH¢98 billion in 2023, before recovering to GH¢174 billion in 2024.
Treasury bills remained the busiest segment by number of deals, with 227 trades worth GH¢527.8 million. The most traded bill, maturing on 23 August 2027, recorded GH¢225.7 million across six deals at a yield of 9.35 per cent and a closing price of 92.23.
Sell and buy-back trades in government notes and bonds totalled GH¢66.0 million across 28 deals. Most of it was in the bond maturing on 2 February 2038, which accounted for GH¢56.8 million at a yield of 13.54 per cent.
All corporate bond activity was in Ghana Cocoa Board paper, which recorded GH¢3.66 million across 10 trades. Its bond maturing on 28 August 2028 accounted for GH¢2.17 million and closed at 103.27. The bond due on 30 August 2027 traded GH¢1.49 million and closed at 102.08.
New government notes and bonds recorded two trades worth GH¢194,442, and older government securities saw three trades worth GH¢128,241.
