Trade on the Ghana Fixed Income Market (GFIM) grew from GHS5,222,319 in 2015 to GHS43,828,188 as of October 2019.
This was disclosed by the Acting Managing Director of the Ghana Stock Exchange, Mr Ekow Afedzie at the launch of the Global Master Repurchase Agreement in Accra on 19 November 2019.
From a trade figure of GHS5,222,319 in 2015, it grew over 100% in 2016 to GHS16,768,873. The figures further increased in 2017 to GHS30,703,703 and again rose by an additional GHS7,000,000 in 2018.
The number of trades also increased from 21,946 in 2015 to its highest in 2017 with trade figures of 107,264.
However, as at October 2019, the number of trades had reduced to 98,018.
According to Mr Afedzie, the following securities or instruments, when issued, will be traded on the GFIM:
•Quasi-Government of Ghana institutions’ money market instruments, notes and bonds;
•local government bonds (i.e. metropolitan, municipal and district bonds);
GFIM is a market that facilitates the secondary trading of all fixed-income securities and other securities to be determined from time to time.
In August 2015, the market was established by key stakeholders in the financial market led by the Bank of Ghana (BoG), Ghana Stock Exchange, (GSE), Central Securities Depository Ghana Ltd (CSD), Ghana Association of Bankers, the Ministry of Finance, Financial Market Association (ACI Ghana) and Licensed Dealing Members (LDMs) of the Ghana Stock Exchange.
The Securities and Exchange Commission (SEC) is the Regulator.