ADVERTISEMENT
RADP / Pulse Ghana  >  news  >  business

Ghana accepts $89 million of 3-year cedi bond

Abu Mubarik

Ghana has accepted 393.6 million cedis ($88.9 mln) worth of bids for an oversubscribed three-year domestic bond.

Total bids for the bond, opened to foreign investors, were 498.3 million cedis. The target for the issue was 300 million, the report said.

READ MORE:6 ways to survive on a minimum wage as a Ghanaian

The government last week said it is looking forward to raising 17.4 billion cedis in the third quarter of 2017 from the securities market.

ADVERTISEMENT

A statement issued by the Bank of Ghana indicated that the cash accumulated will be used to roll over maturities as well as to take care of government financing requirement.

About 14 million cedis of the total is expected to be used to roll over maturities and the remaining GH¢3.2 billion as fresh issuance to meet government’s financing requirement.

READ ALSO: Pulse Ghana honored at Ghana Startup Awards

In the said quarter, a 2.6 billion cedi fifteen-year bond will be issued in August. Two five year bonds will also be issued, one to be issued in July and the other in August.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!
Abu Mubarik Abu Mubarik Abu Mubarik is a writer at Pulse Ghana with special interests in Ghana politics, international relations and geopolitics.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT