Ghana Fixed Income Market Summary of Status Report

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Ghana Fixed Income Market Summary of Status Report GHANA FIXED INCOME MARKET SUMMARY OF STATUS REPORT OCTOBER 2019 1 MEMBERSHIP GFIM as at the end of October 2019 has 38 registered members categorized as follows: LICENSED DEALING MEMBERS PRIMARY DEALER BANKS 1. African Alliance Securities Limited 1. Access Bank Ghana Limited 2. Black Star Brokerage Limited 2. ARB Apex Bank 3. Bullion Securities Limited 3. Barclays Bank Ghana Limited 4. Databank Brokerage Limited 4. Cal Bank Ghana Limited 5. EDC Stockbrokers Limited 5. Consolidated Bank Ghana Limited 6. Teak Tree Brokerage Limited 6. Ecobank Ghana Limited 7. Republic Securities Ghana Limited 7. Fidelity Bank Ghana Limited 8. IC Securities Limited 8. GCB Bank Limited 9. NTHC Ltd 9. Guaranty Trust Bank Ghana Limited 10. Prudential Stockbrokers Limited 10. Societe Generale Ghana Limited 11. SBG Securities Ghana Limited 11. Stanbic Bank Limited 12. SIC Financial Services 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. National Investment Bank 7. Prudential Bank Limited 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: 24 3yr Government bond-10 5yr Government bond- 6 6yr Government bond- 1 7yr Government bond- 3 10yr Government bond-2 15yr Government bond-1 20yr Government bond-1 Treasury Notes: 20 1yr Government note- 6 2yr Government note- 14 Treasury Bills:73 364 day bill- 23 182 day bill- 26 91 day bill- 13 182-day Cocoa Bill- 11 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 PBC Ghana Limited 1 E.S.L.A. Plc 3 Ghana Home Loans Limited 2 Ghana Home Loans Limited (US Dollar) 3 Bond Savings and Loans Ltd 14 Quantum Terminal Ltd 1 Dalex Finance and Leasing Company Ltd 1 3 TOTAL OUSTANDING GOVERNMENT SECURITIES AS AT OCTOBER 2019 2019 2018 TENOR OF SECURITY AMOUNT GH₵ AMOUNT GH₵ 91-DAY 6,765,016,095 5,142,986,470 182-DAY 3,298,522,073 2,978,842,321 364-DAY 5,539,838,534 - 1-YEAR 2,717,367,480 2,293,416,639 2-YEAR 11,372,792,969 11,534,930,298 3-YEAR 12,424,090,481 10,930,294,115 5-YEAR 14,969,301,432 12,160,659,758 6-YEAR 1,780,734,816 - 7-YEAR 4,580,802,038 2,857,388,228 10-YEAR 8,665,116,177 7,861,167,635 15-YEAR 5,812,651,561 4,793,780,961 20-YEAR 162,131,557 - TOTAL 78,088,365,213 60,553,466,425 SECURITIES TRADED IN SEPTEMBER ISSUER NAME DESCRIPTION VALUE TRADED NUMBER OF TRADES AFB GHANA 3-YEAR BOND 302,630.47 1 AFB GHANA 5-YEAR BOND 336,487.33 2 AFB GHANA 6-YEAR BOND 2,482,940.52 1 BAYPORT FINANCIAL 3-YEAR BOND 8,623,329.63 10 ESLA 7-YEAR BOND 58,714,498.42 66 ESLA 10-YEAR BOND 209,916,704.91 129 IZWE LTD 3-YEAR BOND 171,870.34 2 IZWE LTD 5-YEAR BOND 4,437,780.71 5 GOVT OF GHANA 91-DAY BILL 127,718,563.70 5604 GOVT OF GHANA 182-DAY BILL 45,827,597.39 1295 GOVT OF GHANA 364-DAY BILL 35,035,419.34 364 GOVT OF GHANA 1-YEAR NOTE 394,168.22 11 GOVT OF GHANA 2-YEAR NOTE 838,316,645.29 762 GOVT OF GHANA 3-YEAR BOND 989,998,348.10 581 GOVT OF GHANA 5-YEAR BOND 1,143,545,428.57 802 GOVT OF GHANA 6-YEAR BOND 240,684,290.12 69 GOVT OF GHANA 7-YEAR BOND 765,889,750.84 120 GOVT OF GHANA 10-YEAR BOND 513,932,440.35 120 GOVT OF GHANA 15-YEAR BOND 337,717,671.74 104 GOVT OF GHANA 20-YEAR BOND 40,655,319.58 14 COCOA BOARD 182-DAY BILL 209,996,794.84 497 BARCLAYS BANK OF 38,615,591.68 45 GHANA* TOTAL 5,613,314,272.09 10,604 * This is not listed on the Ghana Fixed Income Market 4 GHANA CORPORATE SECURITIES 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 6,000.00million 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 7,216.99 million 12,100 million OCTOBER CORPORATE ZOOM-IN DALEX FINANCE COMPANY DFLC MARKET STATISTICS Dalex was incorporated on September 13, 2004, as a private limited liability company, under the Companies Act with registration number CA-13,484. Dalex was issued with a certificate to commence business with effect from April 27, 2006. Dalex was re-registered on October 28, 2016 with a new company registration number of ‘CS192312016’, as required by the Companies Registry under the Government of Ghana e-registration system. Pursuant to the establishment of the Programme, Dalex was converted into a public limited liability company on 21 April, 2017, by a resolution of the Dalex Board passed on December 19, 2016 and a resolution of the shareholders of Dalex passed on December 13, 2016. Following the conversion, the Companies Registry has issued Dalex with a new company registration number of PL000152017. Dalex currently conducts its business from 10 branches and 76 agency offices. 5 VOLUME OF TRADES MONTH CSD BLOOMBERG 2019 2018 2017 2019 2018 2017 January 3,223,772,603 3,310,692,897 3,005,951,273 255,030,000 158,577,000 320,384,000 February 4,426,450,387 4,258,519,930 1,921,050,863 306,885,000 295,088,000 44,477,000 March 4,175,583,301 3,160,168,133 2,474,848,604 219,275,000 51,600,000 266,392,000 April 3,749914,983 1,801,991,461 1,867,904,509 98,229,000 97,200,000 192,371,000 May 4,573,641,343 3,164,111,390 2,118,923,894 188,848,000 34,000,000 143,650,000 June 4,736,961,689 3,285,363,905 1,650,430,204 546,730,000 482,740,000 120,545,000 July 4,803,944,134 2,961,819,671 1,766,518,140 182,257,000 548,047,000 84,287,000 August 4,481,385,617 3,358,380,590 5,028,535,721 685,566,000 658,394,000 244,746,000 September 4,043,220,226 3,491,312,515 2,082,485,694 261,863,000 473,026,000 145,194,000 October 5,613,314,272 3,067,371,443 1,818,679,237 656,267,000 262,240,000 47,513,000 November 2,904,757,781 2,264,724,234 276,221,000 158,612,000 December 3,100,828,155 4,703,651,380 262,055,000 71,478,000 43,828,188,555 37,865,317,843 30,703,703,753 3,400,950,000 3,599,188,000 1,839,649,000 CAPIZAR ATS MONTH 2019 2018 January 150,000 - February - - March 73,502 - April - - May - - June - 430,000 July - 300,000 August - - September - - October - - November 169,433 December - TOTAL 223,502 899,433 NUMBER OF TRADES (2017 TO 2019) MONTH CSD BLOOMBERG 2019 2018 2017 2019 2018 2017 January 8,009 7,521 18,487 83 108 84 February 7,724 5,960 7,281 84 62 32 March 10,214 5,706 11,012 72 27 254 April 8,079 8,176 6,900 74 36 106 May 11,113 8,674 6,319 77 21 101 June 8,861 6,384 8,643 59 132 82 July 10,819 5,746 10,165 72 126 62 August 11,136 6,824 9,283 161 182 86 September 11,459 6,106 8,119 72 118 99 October 10,604 8,197 6,655 261 101 57 November 7,050 7,126 102 46 December 6,476 7,274 98 64 TOTAL 98,018 82,820 107,264 1,015 1,113 1,073 6 RANKINGS FOR OCTOBER 2019 (BASED ON VOLUME TRADED) SELL SIDE VOLUME TRADED TOTAL MARKET TRADES SHARE % 1. STANBIC BANK GHANA LIMITED 1,774,284,243.73 1070 31.61 2. BARCLAYS BANK GHANA LIMITED 684,559,278.85 748 12.20 3. STANDARD CHARTERED BANK GHANA 615,231,207.88 1207 10.96 4. ACCESS BANK GHANA LIMITED 585,467,236.69 364 10.43 5. ECOBANK GHANA LIMITED 511,788,747.87 3927 9.12 6. GCB BANK LIMITED 258,736,671.98 661 4.61 7. FIDELITY BANK (GHANA) LIMITED 226,875,982.63 549 4.04 8. ZENITH BANK GHANA LIMITED 201,461,893.19 250 3.59 9. GUARANTY TRUST BANK (GHANA) LIMITED 183,412,224.95 220 3.27 10.
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