Category West African Fixed Income

Nigeria Fixed Income Weekly

The Week that was (December 3-7): – CBN’s low tolerance for NGN liquidity pushes Naira yields higher CBN cranks up its liquidity tightening gears, pushing interest rates higher: As I noted last week, the CBN’s response to exchange rate pressures at the parallel market was to ramp up its mop-up of Naira liquidity in the […]

Ghana Fixed Income Weekly

Before I press ahead I would like to apologise for skipping the Ghana FI weekly last week, so this week’s version will recap events over the last two weeks. The fortnight that was (March 19-30) PMA rates closed March lower on robust demand: Relative to planned offer of GHS2.2billion, the Government of Ghana (GoG) sold […]

Ghana Fixed Income Weekly

The Week that was (March 12-16) GoG upsizes debt issue amid robust investor demand: Last week, the Government of Ghana (GoG) took advantage of robust subscription to raise GHS916million worth of debt – nearly double issuance in the prior week and above target of GHS757million. Demand was robust for the 3M and 2-year papers with […]

The West African Fixed Income Weekly – Ghana Edition

After over six months of providing weekly updates on Nigerian fixed income, today I will begin expanding coverage to include developments across the wider West African sub-region and in particular Ghana and the West African Economic and Monetary Union (WAEMU) franc region which is made up of eight countries (Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, […]