The debt instrument which are listed on the Ghana Stock Exchange are made up of four 1-year fixed rate note, two 2-year fixed rate note and a 3-year fixed ratenote.
The largest debt instrument issued was a GH¢373.2 million 3-year fixed rate note which was issued on January 11, 2016 at an interest rate of 24.75 percent.
Following closely was a GH¢255.8 million 2-year fixed rate note issued on December 14, 2015.
The yield for that instrument was 23.30 percent.
According to a circular from the Ghana Stock Exchange, the interest payment will be done within half a year from the date of issue.
For the 1-year note, the issue dates were December 7 and 21, 2015 and January 4 and 18, 2016, respectively.
On the other hand, the 2-year notes were issued on December 14, 2015 and January 11, 2016, respectively.
According to the Bank of Ghana, non-resident foreigners were allowed to participate in the securities with tenure of two years and above.
Already, government is expected to raise a total of GH¢6.03 billion through the Bank of Ghana in securities alone this month.
This will include GH¢3 billion in 91-day Treasury bill, GH¢2.1 billion in 182-day Treasury bill and GH¢120 million worth of 1-year note. The rest are GH¢300 million 2-year note and GH¢500million from a 5-year fixed rate note.
According to Bank of Ghana, the aggregate borrowing for the month of February 2016 will cover maturities of GH¢5.55 billion. Net issuance during the month is therefore GH¢476.06 million.
The central bank stated that the auction for the 91-day and 182-day Treasury bills, the 1-year and 2-year notes will be conducted on Fridays.
The treasury notes and bonds may however be re-opened to create liquidity in the instruments.
According to the latest summary of Financial and Economic Data, Ghana’s public debt stock hit GH¢92.2 billion in September 2015, representing 69.1 percent of GDP.
Domestic debt at the end of December 2015 was however GH¢38.8 billion, approximately 29.1 percent of GDP.
By Augustine Amoah
An Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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