Treasury bills sale was undersubscribed during the third quarter of 2021, according to Economic and Financial Market Review compiled by Tesah Capital.
The overall subscription rate was 89.5%, down from the government target of ¢16.83 billion, as investors shifted their interest to the bond market in search of higher yields.
The interest rates for the 364-day, 182-day and 91-day T-bills also declined by 19 basis points, 17 basis points and 13 basis points from the second quarter of 2021, to 16.14% , 13.21% and 12.49% respectively, in the third quarter 2021.
Activity on the secondary bond market also increased, with the turnover increasing by 92.4% year-on-year in quarter three 2021 to ¢49.37 billion, from ¢25.66 billion in quarter 3, 2020.
The Government of Ghana (GoG) securities accounted for 85.5% of total volumes traded in third quarter of 2021, down from 90.8% recorded in second quarter 2021. This was due to an increase in corporate bond issuances during the period that is ESLA, Daakye and Letshego.
The GoG securities constituted 80.83% of the market size as of September, 2021.
GSE equity market exhibited outstanding performance
For the equity market, the Ghana Stock Exchange Composite Index (GSE-CI) continued on an upward trajectory in GSE-CI quarter 3, 2021 as it closed the quarter at 2,855.29 up from 2,643.67points in quarter 2, 2021, with a year-to-date return of 47.06%.
The equities market performance during the quarter was driven mainly by gains recorded by Ghana Stock Exchange Financial Stock Exchange (GSE-FSI).
The GSE-FSI gained 9.82% following the release of the half-year 2021 financial results of listed banks as compared to a gain of 1.38% in the previous quarter.
Trading volumes declined by 41.8% as share volume of 73.50 million valued at ¢103.55 million changed hands compared with 104.22 million shares valued at ¢135.24 million which settled in second quarter of 2021.
MTN Ghana dominated the market in volume traded by 87.48% in the third quarter of 2021.
End of Year Dinner and Awards: Celebrating Excellence and Collaboration
December 04, 2024
CANCHAM and CCIFG Hosts Silver Star Business Networking Cocktail
December 04, 2024
Ringing the Bell for Climate Change: GSE Leads the Charge
December 04, 2024
CEO’s Connect 2024: Exploring Business Opportunities for Economic Growth
September 05, 2024
September 05, 2024
August 08, 2024
157TH Canada Day Celebration: Celebrating Strong Bilateral Trade between Canada and Ghana
July 01, 2024
FATHER’S DAY DINNER WITH PRINCE KOFI AMOABENG
July 01, 2024
FREIGHT FORWARDERS AND LOGISTICS SECTOR MEETING
July 01, 2024
Celebrating Women at the Mother’s Day Dinner
June 03, 2024
CANCHAM Pharmaceutical Sector Meeting Highlights
June 03, 2024
In-house Presentation (May Edition)
June 03, 2024
CANCHAM ANNUAL GENERAL MEETING
May 08, 2024
Construction Sector Meeting Hosted by CANCHAM
May 08, 2024
INDUSTRIAL TOUR TO MERIDIAN PARK BY LMI HOLDINGS
May 08, 2024
A JAZZ AND WHISKY AFFAIR: A Tri-Chamber Collaboration!
May 08, 2024
May 08, 2024
EMPOWERING THE FUTURE: ALINEA FOUNDATION’S WEE-NORTH PROJECT AGM
April 04, 2024
EMPOWERING CHANGE: CANCHAM AND JOY BUSINESS INTERNATIONAL WOMEN’S DAY DIALOGUE
April 04, 2024
April 04, 2024