The Ghana Ministry of Finance, in collaboration with the Bank of Ghana, has announced the newly appointed Authorised Primary Dealers (PDs) and Bond Market Specialists (BMSs) for the government’s securities market.
This follows a comprehensive review of the Primary Dealer system, as outlined in Notice No. BOG/FMD/2026/08, issued on February 10, 2026.
These institutions are authorized to underwrite, bid for, and distribute Government of Ghana Treasury bills and bonds, helping to enhance liquidity, deepen market participation, and support efficient issuance in the domestic debt market.
Newly Appointed Authorised Primary Dealers (PDs):
The following 15 institutions have been approved as Primary Dealers:
ABSA Ghana Limited
CALBank PLC
Ecobank Ghana Limited
GCB Bank PLC
Fidelity Bank Ghana Limited
Stanbic Bank Ghana Limited
Consolidated Bank Ghana (CBG) Limited
ARB Apex Bank Limited
Standard Chartered Bank Ghana Limited
Société Générale Ghana Limited
One Africa Securities Ltd
Fincap Securities Limited
Laurus Africa Limited
Strategic African Securities Limited
Constant Capital Ltd
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Out of the approved Primary Dealers, the following six institutions have been additionally designated as Bond Market Specialists. They will support the issuance of Treasury Notes and Bonds through the book-building process:
ABSA Ghana Limited
Stanbic Bank Ghana Limited
CALBank PLC
GCB Bank PLC
One Africa Securities Ltd
Fincap Securities Limited
This updated framework aims to strengthen the overall functioning of Ghana’s government securities market, promote broader distribution, and improve secondary market activity. The appointments take effect immediately following the notice.