Government of Ghana issues GSH1 billion bond


The Exchange has admitted to the Ghana Fixed Income Market (GFIM), notes issued by the Government of Ghana in December 2016.

Background Information

Details of the notes are as follows.

Title 1-Year Notes 2-Year Notes
Issuer Government of Ghana Government of Ghana
Total Value Issued GH¢904,198,400 GH¢1,040,718,766
Coupon Rate 22.00% and21.00% per annum 22.50% per annum
Issue Date 05/12/2016 19/12/2016 12/12/2016
Maturity Date 04/12/2017 18/12/2017 10/12/2018
Interest Payment Half yearly from issue date Half yearly from issue date

Non-Resident Foreign (NRF) Investors Participation

The Bank of Ghana has confirmed that participation in Government of Ghana fixed income securities is open to nonresident foreigners (NRF) in respect of securities with tenor of two years and above.


The Central Securities Depository Ltd will be in charge of registration.


The Income Tax Act of 2015 (Act 896) requires the withholding of tax in respect of interest payments at the applicable rate of tax.

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