SUMMARY OF STATUS REPORT MARCH 2020

1

MEMBERSHIP

GFIM as at the end of March 2020 has 38 registered members categorized as follows:

LICENSED DEALING MEMBERS PRIMARY DEALER BANKS 1. African Alliance Securities Limited 1. Access Bank Limited 2. Black Star Brokerage Limited 2. ARB Apex Bank 3. Bullion Securities Limited 3. ABSA Bank Ghana Limited 4. Databank Brokerage Limited 4. Cal Bank Ghana Limited 5. EDC Stockbrokers Limited 5. Limited 6. Teak Tree Brokerage Limited 6. Limited 7. Republic Securities Ghana Limited 7. Fidelity Bank Ghana Limited 8. IC Securities Limited 8. GCB Bank Limited 9. NTHC Securities Ltd 9. Guaranty Trust Bank Ghana Limited 10. Prudential Stockbrokers Limited 10. Limited 11. SBG Securities Ghana Limited 11. Stanbic Bank Limited 12. SIC Brokerage Limited 12. Standard Chartered Bank Limited 13. Strategic African Securities Limited 13. Universal Merchant Bank 14. UMB Stock Brokers Ltd

NON - PRIMARY DEALER BANKS 1. Agricultural Development Bank 2. Bank of Africa Ghana Ltd 3. First Atlantic Bank Ghana Ltd 4. First National Bank Limited 5. FBN Bank Ghana Ltd 6. 7. 8. Republic Bank Ghana Limited 9. Sahel Sahara Bank Ghana Limited 10. UBA Ghana Limited 11. Zenith Bank Ghana Ltd

2

SUMMARY OF SECURITIES • Benchmark Securities: 8 5yr Government bond- 5 7yr Government bond- 1 10yr Government bond- 1 15yr Government bond- 1 • Non-Benchmark Securities: 26 3yr Government bond-11 5yr Government bond- 7 6yr Government bond- 1 7yr Government bond- 3 10yr Government bond-2 15yr Government bond-1 20yr Government bond-1 • Treasury Notes: 12 2yr Government note- 12 • Treasury Bills:82 364 day bill- 29 182 day bill- 26 91 day bill- 13 182-day Cocoa Bill- 14 ❖ Local US dollar 3-year bond-1 ❖ Eurobond-9 ❖ Corporate Bonds

AFB Ghana Plc 18 Bayport Financial Services (Ghana) 9 Edendale Properties 2 Izwe Loans Ghana 6 E.S.L.A. Plc 4 Ghana Home Loans Limited 2 Ghana Home Loans Limited (US Dollar) 3 Bond Savings and Loans Ltd 15 Quantum Terminal Ltd 1 Dalex Finance and Leasing Company Ltd 1

3

TOTAL OUSTANDING GOVERNMENT SECURITIES AS AT MARCH 2020 2020 2019 TENOR OF SECURITY AMOUNT GH₵ AMOUNT GH₵ 91-DAY 7,665,362,965 6,010,142,032 182-DAY 2,833,271,324 3,095,516,068 364-DAY 6,086,648,274 1,651,016,125 1-YEAR - 3,097,558,044 2-YEAR 11,998,005,245 13,996,601,678 3-YEAR 14,766,357,397 11,579,497,215 5-YEAR 20,509,069,543 12,661,661,126 6-YEAR 1,835,484,816 370,308,430 7-YEAR 5,319,904,038 3,258,128,844 10-YEAR 8,815,116,177 7,861,167,635 15-YEAR 12,429,921,098 4,793,780,961 20-YEAR 162,131,557 - TOTAL 92,421,272,434 68,375,378,158

SECURITIES TRADED IN MARCH ISSUER NAME DESCRIPTION VOLUME TRADED NUMBER OF INTEREST TRADES RATE AFB GHANA 5-YEAR BOND 10,400 1 2.4452 AFB GHANA 6-YEAR BOND 29,500 1 18.5025 AFB GHANA 7-YEAR BOND 57,500 1 19.1670 BAYPORT 3-YEAR BOND 26,000 4 28.4616 FINANCIAL IZWE PLC 5-YEAR BOND 100,000 1 22.7520 ESLA 7-YEAR BOND 54,035,558 25 20.9738 ESLA 10-YEAR BOND 27,791,364 53 21.0533 ESLA 12-YEAR BOND 65,461,379 15 20.4712 GOVT OF GHANA 91-DAY BILL 127,163,765 5,306 14.6383 GOVT OF GHANA 182-DAY BILL 27,113,754 1,065 15.1520 GOVT OF GHANA 364-DAY BILL 27,104,713 465 17.6471 GOVT OF GHANA 2-YEAR NOTE 1,199,600,416 2,024 13.8800 GOVT OF GHANA 3-YEAR BOND 2,547,195,230 1,490 11.0020 GOVT OF GHANA 5-YEAR BOND 2,007,952,328 895 18.2145 GOVT OF GHANA 6-YEAR BOND 467,109,053 168 21.3700 GOVT OF GHANA 7-YEAR BOND 710,581,284 699 14.9975 GOVT OF GHANA 10-YEAR BOND 525,177,670 645 14.2300 GOVT OF GHANA 15-YEAR BOND 58,315,901 102 20.4850 GOVT OF GHANA 20-YEAR BOND 39,388,015 27 20.5500 COCOA BOARD 182-DAY BILL 331,759,128 977 11.4316 ABSA BANK GHANA 10,412,000 15 LTD* TOTAL 8,226,384,958 13,979 * This is not listed on the Ghana Fixed Income Market

4

SUMMARY OF CORPORATE BONDS LISTING Name of Issuer Number Amount Raised Shelf Registration GH¢ GH¢ Izwe Loans Ltd 6 80.00 million 80 million AFB Plc 18 287.07 million 300 million Edendale Properties Ltd 6 32.65 million 50 million Bayport Financial Services 9 308.84 million 500 million Ghana Home Loans 2 19.00 million 380 million PBC Ltd 2 362.30 million 400 million ESLA Ltd 3 6,430.46million 10,000million Bond Savings & Loans 14 62.13 million 100 million Quantum Terminal Ltd 1 45 million 140 million Dalex Finance Company 1 20.00 million 150 million TOTAL 62 7,647.45 million 12,100 million

SUMMARY OF VOLUME OF TRADES MONTH CSD BLOOMBERG 2020 2019 2018 2020 2019 2018 January 7,797,077,902 3,223,772,603 3,310,692,897 384,377,000 255,030,000 158,577,000 February 6,384,052,446 4,426,450,387 4,258,519,930 946,241,000 306,885,000 295,088,000 March 8,226,384,958 4,175,583,301 3,160,168,133 391,301,319 219,275,000 51,600,000 April 3,749914,983 1,801,991,461 98,229,000 97,200,000 May 4,573,641,343 3,164,111,390 188,848,000 34,000,000 June 4,736,961,689 3,285,363,905 546,730,000 482,740,000 July 4,803,944,134 2,961,819,671 182,257,000 548,047,000 August 4,481,385,617 3,358,380,590 685,566,000 658,394,000 September 4,043,220,226 3,491,312,515 261,863,000 473,026,000 October 5,613,314,272 3,067,371,443 656,267,000 262,240,000 November 5,845,862,422 2,904,757,781 453,367,000 276,221,000 December 5,878,541,793 3,100,828,155 1,721,110,000 262,055,000 22,407,515,306 55,552,592,770 37,865,317,843 1,721,919,319 5,575,427,000 3,599,188,000

THE SECONDARY MARKET AT A GLANCE 9,000,000,000 8,000,000,000 7,000,000,000 6,000,000,000 5,000,000,000 4,000,000,000 3,000,000,000 2,000,000,000 1,000,000,000 0

2020 2019 2018

*THE CSD VOLUME REPRESENTS THE WHOLE MARKET

5

CAPIZAR ATS TRADING PLATFORM MONTH 2020 2019 2018 January - 150,000 - February 10,000,000 - - March 58,000 73,502 - April - - May - - June - 430,000 July - 300,000 August - - September - - October - - November - 169,433 December - - TOTAL 10,058,000 223,502 899,433

NUMBER OF TRADES (2018 TO 2020)

MONTH CSD BLOOMBERG 2020 2019 2018 2020 2019 2018 January 13,512 8,009 7,521 116 83 108 February 12,103 7,724 5,960 83 84 62 March 13,979 10,214 5,706 103 72 27 April 8,079 8,176 74 36 May 11,113 8,674 77 21 June 8,861 6,384 59 132 July 10,819 5,746 72 126 August 11,136 6,824 161 182 September 11,459 6,106 72 118 October 10,604 8,197 261 101 November 10,763 7,050 162 102 December 10,527 6,476 247 98 TOTAL 39,594 119,308 82,820 302 1,424 1,113

6

CUMULATIVE TRADES FOR THE PERIOD, JANUARY TO MARCH 2020 (BASED ON VOLUME TRADED) SELL SIDE

VOLUME TRADED TOTAL TRADES MKT SHARE % 1. STANBIC BANK GHANA LIMITED 6,193,800,100 3,141 27.64 2. ACCESS BANK GHANA LIMITED 2,829,822,447 1,190 12.63 3. ABSA BANK GHANA LIMITED 2,609,503,683 2,199 11.65 4. STANDARD CHARTERED BANK GHANA 2,004,460,953 3,777 8.95 5. ECOBANK GHANA LIMITED 1,596,766,095 12,305 7.13 6. CONSOLIDATED BANK GHANA LTD 870,188,970 489 3.88 7. CAL BANK LIMITED 816,875,732 1,912 3.65 8. GCB BANK LIMITED 751,161,856 6,435 3.35 9. FIDELITY BANK (GHANA) LIMITED 740,783,098 2,670 3.31 10. ZENITH BANK GHANA LIMITED 681,585,622 717 3.04 11. UNITED BANK FOR AFRICA GHANA LIMITED 525,327,837 255 2.34 12. SOCIETE GENERALE GHANA LIMITED 390,842,893 1,211 1.74 13. BLACK STAR BROKERAGE LIMITED 385,622,149 328 1.72 14. GUARANTY TRUST BANK (GHANA) LIMITED 375,469,880 763 1.68 15. IC SECURITIES (GHANA) LIMITED. 262,103,658 228 1.17 16. FIRST NATIONAL BANK GHANA LIMITED 261,313,056 342 1.17 17. FIRST ATLANTIC BANK 215,807,619 58 0.96 18. PRUDENTIAL BANK LIMITED 207,206,945 64 0.92 19. DATABANK BROKERAGE LIMITED. 174,010,104 219 0.78 20. BANK OF AFRICA GHANA LIMITED 133,012,949 47 0.59 21. 111,318,394 449 0.50 22. EDC STOCKBROKERS LIMITED 67,509,870 67 0.30 23. STRATEGIC AFRICAN SECURITIES 62,900,799 210 0.28 24. AFRICAN ALLIANCE SECURITIES GHANA LTD 38,559,027 4 0.17 25. UNIVERSAL MERCHANT BANK LIMITED 38,253,245 171 0.17 26. SIC BROKERAGE LIMITED 12,523,611 111 0.06 27. REPUBLIC SECURITIES GHANA LIMITED 12,511,674 19 0.06 28. UMB INVEST. HOLDINGS 9,832,269 39 0.04 29. REPUBLIC BANK (GHANA) LTD 7,097,685 77 0.03 30. ARB APEX BANK LIMITED 6,500,000 1 0.03 31. FIRSTBANC BROKERAGE SERVICES LIMITED. 4,887,015 24 0.02 32. PRUDENTIAL STOCKBROKERS LIMITED 4,070,521 19 0.02 33. TEAK TREE BROKERAGE LIMITED 3,350,560 12 0.01 34. BULLION SECURITIES LIMITED 1,445,059 14 0.01 35. NTHC SECURITIES LIMITED 661,668 11 0.00 36. FBN BANK GHANA LIMITED 334,759 2 0.00 37. BANQUE SAHELO-SAHARIENNE POUR 87,018 12 0.00 L'INVESTISSEMENT ET LE COMMERCE 38. CHAPEL HILL DENHAM SECURITIES GHANA 6,486 2 0.00 LIMITED TOTAL 22,407,515,306 39,594

7

BUY SIDE

VOLUME TOTAL MKT SHARE % TRADED TRADES 1. STANBIC BANK GHANA LIMITED 5,706,312,241 3,057 25.47 2. ABSA BANK GHANA LIMITED 2,383,695,462 2,043 10.64 3. ACCESS BANK GHANA LIMITED 2,351,703,380 918 10.50 4. STANDARD CHARTERED BANK GHANA 2,075,776,443 3,685 9.26 5. ECOBANK GHANA LIMITED 1,743,053,898 12,319 7.78 6. GCB BANK LIMITED 1,410,708,598 6,520 6.30 7. ZENITH BANK GHANA LIMITED 1,058,842,559 687 4.73 8. FIDELITY BANK (GHANA) LIMITED 696,895,460 2,708 3.11 9. CAL BANK LIMITED 621,858,653 1,375 2.78 10. GUARANTY TRUST BANK (GHANA) LIMITED 484,504,261 739 2.16 11. IC SECURITIES (GHANA) LIMITED. 454,111,608 434 2.03 12. UNITED BANK FOR AFRICA GHANA LIMITED 448,150,930 230 2.00 13. BLACK STAR BROKERAGE LIMITED 437,570,832 372 1.95 14. FIRST NATIONAL BANK GHANA LIMITED 409,042,487 340 1.83 15. SOCIETE GENERALE GHANA LIMITED 406,087,968 1,209 1.81 16. BANK OF AFRICA GHANA LIMITED 230,151,362 65 1.03 17. CONSOLIDATED BANK GHANA LTD 220,286,542 455 0.98 18. DATABANK BROKERAGE LIMITED. 187,770,662 313 0.84 19. FIRST ATLANTIC BANK 187,286,054 50 0.84 20. EDC STOCKBROKERS LIMITED 168,906,164 139 0.75 21. STRATEGIC AFRICAN SECURITIES 137,758,835 348 0.61 22. BANK OF GHANA 111,318,394 449 0.50 23. REPUBLIC SECURITIES GHANA LIMITED 89,700,184 310 0.40 24. SIC BROKERAGE LIMITED 81,190,030 235 0.36 25. PRUDENTIAL BANK LIMITED 70,135,000 40 0.31 26. ARB APEX BANK LIMITED 49,279,317 35 0.22 27. BANQUE SAHELO-SAHARIENNE POUR 45,087,018 23 0.20 L'INVESTISSEMENT ET LE COMMERCE 28. AFRICAN ALLIANCE SECURITIES GHANA LIMITED. 38,597,627 4 0.17 29. UMB INVEST. HOLDINGS 24,164,527 56 0.11 30. FBN BANK GHANA LIMITED 23,264,241 11 0.10 31. PRUDENTIAL STOCKBROKERS LIMITED 12,010,064 52 0.05 32. FIRSTBANC BROKERAGE SERVICES LIMITED. 11,774,492 43 0.05 33. BULLION SECURITIES LIMITED 9,915,759 35 0.04 34. REPUBLIC BANK (GHANA) LTD 7,516,080 79 0.03 35. CHAPEL HILL DENHAM SECURITIES GHANA LIMITED 3,376,358 16 0.02 36. GHL BANK LIMITED 3,039,000 1 0.01 37. UNIVERSAL MERCHANT BANK LIMITED 2,687,485 160 0.01 38. CDH SECURITIES LIMITED 1,738,588 18 0.01 39. AGRICULTURAL DEVELOPMENT BANK 1,045,000 1 0.00 40. TEAK TREE BROKERAGE LIMITED 702,159 12 0.00 41. SERENGETI CAPITAL MARKETS LIMITED 286,182 5 0.00 42. NTHC SECURITIES LIMITED 213,402 3 0.00 TOTAL 22,407,515,306 39,594

8