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      Botswana’s women boxing on the rise 

      Boxers Finally Receive their Prize Money from 2022 African Championships

      Darts Expects Only P50K from BNSC for 2023/24

      Darts Expects Only P50K from BNSC for 2023/24

      Botswana athletes to train in USA

      Botswana athletes to train in USA

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Debswana’s BAA Sponsorship Plays Critical Role in Developing BW Athletics – Theetso

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      Boxers yet to Receive Prizes from 2022 African Boxing Championships 

      April will see 2nd Instalment of Summer Kids Marathon

      April will see 2nd Instalment of Summer Kids Marathon

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      Ghana cancels another domestic bond due to high yields

      mm by RMB Africa Research
      August 31, 2022
      in News
      Reading Time: 1 min read
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      Ghana cancels another domestic bond due to high yields

      Ghana’s local currency sovereign bond yield curve. Source: ETM Analytics, Bloomberg

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      The Ghanaian government was forced to cancel yet another domestic bond auction due to high yields.

      According to Bloomberg, Ghana’s debt issuance office rescinded its decision on the issuance of its planned sale of 2-year and 5-year cedi-denominated bonds. The decision to cancel the planned auction was largely due to the increased premium demanded by investors for purchasing the bonds.

      The coupon rate for the 2-year bond was pegged at 21.50 percent, while the 5-year bond’s coupon was 20.75 percent.

      The jump in yields has not just been contained to Ghana’s hard currency and local bonds, with Treasury bill rates also surging, which has resulted in significantly higher debt servicing costs for the government.

      With major central banks still hiking rates aggressively and risk appetite weak, funding pressures in Ghana are expected to remain acute in the near term.

      Tags: domestic bond auctionGhana

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