Ghana is taking another firm step toward economic stability as the government, through the Bank of Ghana (BoG), prepares to issue a new four-year cedi-denominated Treasury Bond on Tuesday, September 1, 2026.
This issuance marks a significant milestone in the country’s gradual return to the domestic capital market. The government suspended long-term bond sales following the severe debt distress that forced a national debt restructuring under the Domestic Debt Exchange Programme (DDEP). With conditions stabilizing, this new 2030 paper becomes only the second long-term bond offered to investors since the restructuring ended.
The move offers dual benefits for the economy. For investors, it provides a viable, higher-yielding alternative to short-term Treasury bills. For the government, shifting toward longer-dated debt creates vital fiscal breathing room, reducing its dependence on weekly short-term loans and spreading debt repayments over a manageable four-year period.
According to BoG, the bond will be marketed primarily to local investors while remaining open to foreign buyers. The bonds will carry a face value of GH¢1, with a minimum investment threshold set at GH¢50,000 and subsequent bids in multiples of GH¢1,000.
The sale will follow a book-build format, where buyers submit bids based on the interest yield they expect. Bidding opens at 9:00 AM on September 1 and closes around 3:00 PM on Thursday, September 3. Final pricing, allocations, and settlement will conclude on Monday, September 7, after which it will trade on the Ghana Stock Exchange. Under its bullet repayment structure, the full principal will be paid at maturity in 2030.
Absa, CalBank, Fincap, GCB, IC Securities, and Stanbic Bank are serving as active bond market specialists to manage the transaction.
