Listing
The Exchange has admitted to the Ghana Fixed Income Market (GFIM), the Government of Ghana’s 1-Year, 2-Year and 3-Year Treasury Notes and Bonds issued from 5th to 26th October, 2015.
Background Information
Background information on the Notes is as follows:
Title : 1-Year Notes 2-Year Fixed Rate Notes
Issuer : Government of Ghana Government of Ghana
Total Value Issued : GH¢33,727,460 GH¢51,082,975
Coupon Rate : 22.50% per annum 24.25% per annum
Issue Date : 5th and 19th Oct., 2015 12th October, 2015
Maturity Date : 3rd and 17th Oct., 2016 9th October, 2017
Interest Payment : Half yearly from issue date Half yearly from issue date
Title : 3-Year Fixed Rate Notes
Issuer : Government of Ghana
Total Value Issued : GH¢994,862,686
Coupon Rate : 24.50% per annum
Issue Date : 26th October, 2015
Maturity Date : 22nd October, 2018
Interest Payment : Half yearly from issue date
Other Information
i. Non-Resident Foreign (NRF) Investors Participation
Bank of Ghana has confirmed that participation is open to non-resident foreigners (NRF) in respect of the 2-Year, 3-year, 5-year and 7-year bonds.
ii. Registration
The Central Securities Depository will be in charge of registration.
iii. Withholding Tax
The Internal Revenue Act 2000 requires the Bank to withhold tax in respect of interest payments to resident corporations holding Bonds on their own account at the rate of 8% of the gross amount of the payment. Interest paid to a non-resident holder (individual and institution) on bonds issued by the Government of Ghana is exempt from tax.
Attached is the list of the notes and bonds issued.
Issued at Accra, this 4th day of November, 2015.