iBroker Ghana

The Ghana Government is planning to raise a total of GHS2.60 billion from the investing public in the first quarter of 2012. This was contained in a notice to stakeholders of the Domestic Securities Market.

Under the issuance schedule, the government intends to mobilize GHS320.00 million each month from January through March 2012 from the issue of 91-Day and 182-Day Treasury Bills. A total of GHS80.00 million is also expected to be raised from 1-Year and 2-Year Notes under the specified period. According to the notice issuance, decisions are made weekly depending on the Government’s projected daily cash position for the week ahead.   It  is envisaged to issue at least GH¢200 million of Treasury Bills and Notes weekly at all times to support government liquidity requirements which will include the redemption (rollover) of maturing securities for the week.

In February the Government will also issue a 3?Year Fixed Rate Bond for GHS200.00 million. This will be replicated quarterly and the  proceeds  would  be used to support government funding requirement. The 2?Year Notes will be issued on weekly basis from 2012. The 2?Year Treasury Notes are currently being listed on the Ghana Stock Exchange (GSE) alongside the 3?Year and 5?Year Bonds. Unlike the other short-term securities which are solely available to residents, the 3-Year Fixed Rate Bonds will be available to both residents and non-residents.


CBL Research