The Bank of Ghana (BoG) has announced plans for the government to issue a new four-year Ghana cedi-denominated Treasury bond in September 2026 as it seeks to raise funds from the domestic debt market.
The bond, which will be issued by the Republic of Ghana, is expected to mature in 2030. The total amount to be raised will be determined through a book-building process.
The government will repay the principal as a lump sum when the bond matures, while the instrument will also be listed on the Ghana Stock Exchange.
The offer will be open to both resident and non-resident investors, with a minimum investment of GH¢50,000 and additional bids in multiples of GH¢1,000.
The Bank of Ghana will release the initial pricing guidance on Tuesday, September 1, when the book-building process opens at 9:00 a.m. Revised pricing guidance may be issued during the process, with the books expected to close around 3:00 p.m. on Thursday, September 3.
The final pricing and allocation will then be determined, with the bond expected to be issued and settled on Monday, September 7, 2026.
Investors will submit their bids based on the yield they are willing to accept. All successful bids will clear at a single clearing level, although allocations may be adjusted at that level if the bond is oversubscribed.
The active bond market specialists for the transaction are Absa, CalBank, Fincap, GCB, OA and Stanbic.
