Bussiness
Government accepts all bids worth ¢1.68bn for 2-yr bond; gets favourable yield
Government accepted all bids worth about ¢1.68 billion for the 2-year bond auctioned on Thursday 2 December, 2021 at a favourable price.
This came after the 2022 Budget and Economic Policy was approved by Parliament.
The interest rate or yield of the debt instrument was however pegged at the upper band of 19.75%, but is a rate many analysts consider as encouraging.
This is because the interest rates on the secondary market are presently going for more than 20%.
Senior Economic Analyst at Databank Research, Courage Martey said “within the context of prevailing market conditions, it is satisfactory to see that the Treasury was able to cover its calendar target. On the pricing side, it’s also very impressive to note that the Treasury was able to price this transaction below where the secondary market was trading for similar tenors [periods].”
“Currently on the secondary market, the 2023 tenors are going for above the 20% handle. So it’s quite impressive to see the Treasury clearing a new 2-year tenor (2023 maturity) below 20%”, he added.
He however asked questions such as “what is not clear is how the secondary market would react to this new trade, in terms of pricing. Are we going to see a downward correction in the secondary levels from the 20% area to converge with the 19.75% area?”
In recent times, the market has been encountering liquidity challenges, as analysts attributed the financial challenges to a combination of factors including the sustainability of the rising debt, inflation, and the fiscal deficit.
This is manifested from Treasury bills sale which has been undersubscribed.
It’s therefore unclear how the month of December, which apparently is the last month of 2021 will pan out with regard to the sale of T-Bills.
Source: www.myjoyonline.com
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
