Ghana’s four-year cedi bond closed with GH¢4.46 billion in bids and GH¢3.15 billion allotted at a 12 percent clearing yield, according to auction results reported by Joy Business on 4 September. The official issuance notice had opened book-building on 1 September and scheduled the close for 3 September.
Settlement and issue remain scheduled for Monday, 7 September, and the instrument is due in 2030. One line in the Joy Business report says the bond matures on 3 September 2026, but that conflicts with both its description as a four-year bond and the Bank of Ghana notice; this article therefore follows the official 2030 maturity terms and flags the discrepancy rather than reproducing it.
The result is a test of confidence after Ghana’s debt restructuring. Official context matters: annual inflation was reported at 5.0 percent in August and first-quarter growth at 6.4 percent. The 12 percent yield suggests investors still demand a substantial premium, while the gap between bids and allotment indicates the government did not accept every offer presented.
