Ghana to borrow $3 billion via Samurai, Eurobond

Ghana to borrow $3 billion via Samurai, Eurobond

Ghana said it is looking at diversifying its sovereign bondholders by adding Japanese investors to its list of debt holders.

Ghana said it is looking at borrowing up to $2 billion from Japanese investors. Popularly called Samurai bond, the country will also be adding a Eurobond of $1 billion later in the year.

Finance Minister Ken Ofori-Atta said:

“To broaden and expand the investor base of Ghana’s bonds, the finance minister and the deputy governor will hold strategic meetings with portfolio and asset managers where they hope to whip up appetite for Ghanaian instruments,” it said.

Nigeria, a larger economy compared to Ghana has tinkered with Eurobond sale for various infrastructure needs. It is not clear if the country will be exploring Samurai bonds as its debt to GDP ratio has grown drastically in the last three years.