Tag: Bonds
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Bond payment default: Govt acted in bad faith – Individual Bondholders
Convener of the Individual Bondholders Association of Ghana (IBHAG), Martin Kpebu, says government acted in bad faith in defaulting on bond payments. Payments of matured coupons and principal payments have been in arrears for over two months now. The association on Monday, April 24, recused itself from the deliberations of the Technical Committee of the…
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Expect your matured coupons within 48hrs – Govt tells bondholders
Government says processes for paying matured coupons on outstanding bonds commenced on Monday, March 13, 2023, and urged bondholders to expect such payments to hit their accounts within the next 48 hours. This was captured in a statement issued by the Ministry of Finance on Tuesday, March 14. “Government is pleased to announce that processes…
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Gov’t assures of ongoing work to ensure successful economic rebound
The government has assured investors of ongoing work being done to ensure that Ghana’s economic rebound anchored in fiscal consolidation and debt sustainability is successful. This follows concerns raised by investors pertaining to a number of issues including clarity on policy to cut the 2022 expenditure by 20% across board, the 2022 revenue target and…
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Ghana mulls Africa’s first social bonds with $2 billion sale
Ghana is planning to issue green and social bonds of up to $2 billion by November, which would make it the first African country to sell debt to fund development programs. This is according to Bloomberg. The West African economy, which is planning to borrow up to $5 billion on international markets this year, would…
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Volume of trade on bond market rises by 34% to 75 billion from Jan – Sept, on the back of equities market uncertainty
Stakeholders within the financial sector are confident investors will continue to turn to the fixed income market, away from the equities market, until a time when the Coronavirus pandemic has been brought under control. The poor performance of many companies on stock markets across the world and the uncertainty surrounding the quality of returns of…
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Analyst describes coupon rate of maiden 20-year bond as fairly priced
Economic Analyst with DataBank, Courage Boti has described the coupon rate for government’s 20-year fixed bonds as fairly priced. He explains that the current market conditions influenced the rates which ranged between 19.85 percent and 20.2 percent for the 162 million cedis bonds. “I think it is a fairly priced instrument. Largely when you are…
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Gov’t hasn’t increased Ghana’s debts – Yaw Osafo Maafo
Senior Minister, Yaw Osafo Maafo has justified government’s issue of bonds to restructure the country’s debts. The NPP government’s bonds issue have been viewed by some as repeating the very concerns the party raised during the campaign season in 2016. The running mate at the time, Dr. Mahamudu Bawumia criticized the NDC for increasing the…
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Govt to raise GH¢17.4 bn in third quarter
Government is seeking to raise 17.4 billion cedis in the third quarter of this year from the securities market. The cash accrued will be used to rollover maturities as well as to take care of government financing requirement. A statement from the Bank of Ghana stated that about 14 million cedis of the total will…
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Govt’s $ 2.25bn bonds will not crowd out private sector
One of three book runners for Government of Ghana’s four bonds issued recently, totaling 2.25 billion dollars has downplayed fears that the success of the bonds auction will have a negative impact on credit for the private sector. Government on Monday (April 3, 2017) announced it was successful in the auction of a total of…
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Govt to issue 17.4 billion cedis in debt securities
Government will in the first quarter of 2017, borrow 17,400.00 million cedis through bonds and treasury bills and other government securities. The cash will be used rollover forecast maturities, meet Government’s financing requirements and build buffers for liability management. Of this 15,504.43 million cedis will be used to rollover forecast maturities and the remaining 1,895.57…