GHANA FIXED INCOME MARKET SUMMARY OF STATUS REPORT JUNE 2019 1 MEMBERSHIP GFIM as at the end of June 2019 has 41 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. Cal Brokers Limited 4. Cal Bank Ghana Limited 5. CDH Securities Limited 5. Consolidated Bank Ghana Limited 6. Databank Brokerage Limited 6. Ecobank Ghana Limited 7. EDC Stockbrokers Limited 7. Fidelity Bank Ghana Limited 8. Gold Coast Brokerage Limited 8. GCB Bank Limited 9. Republic Securities Ghana Limited 9. Guaranty Trust Bank Ghana Limited 10. IC Securities Limited 10. Societe Generale Ghana Limited 11. Liberty Securities Limited 11. Stanbic Bank Limited 12. NTHC Ltd 12. Standard Chartered Bank Limited 13. Prudential Stockbrokers Limited 13. Universal Merchant Bank 14. SBG Securities Ghana Limited 15. SIC Financial Services Limited 16. Strategic African Securities Limited 17. 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: 9 3yr Government bond- 1 5yr Government bond- 5 7yr Government bond- 1 10yr Government bond- 1 15yr Government bond- 1 Non-Benchmark Securities: 20 3yr Government bond-10 5yr Government bond- 5 6yr Government bond- 1 7yr Government bond- 3 10yr Government bond-1 Treasury Notes: 34 1yr Government note- 16 2yr Government note- 18 Treasury Bills: 64 364 day bill- 13 182 day bill- 25 91 day bill- 12 Ghana 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 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 12 Quantum Terminal Ltd 1 Dalex Finance and Leasing Company Ltd 1 3 GHANA GOVERNMENT SECURITIES TOTAL OUSTANDING SECURITIES AS AT JUNE 2019 2019 2018 TENOR OF SECURITY AMOUNT GH₵ AMOUNT GH₵ 91-DAY 6,454,692,011 4,708,594,452 182-DAY 3,490,214,210 3,109,888,047 364-DAY 3,793,711,747 - 1-YEAR 2,891,348,294 2,322,160,290 2-YEAR 12,610,720,787 7,755,677,948 3-YEAR 11,405,560,268 8,437,256,250 5-YEAR 13,522,744,826 13,194,203,758 6-YEAR 1,780,734,816 - 7-YEAR 3,258,128,844 2,960,388,228 10-YEAR 8,365,116,177 7,887,167,635 15-YEAR 4,793,780,961 4,793,780,961 TOTAL 72,366,752,941 55,169,117,569 SECURITIES TRADED ISSUER NAME DESCRIPTION VALUE TRADED NUMBER OF TRADES AFB GHANA 5 YR FLR BOND 64,509.19 1 AFB GHANA 6 YR FLR BOND 8,248.27 1 BOND SAVINGS 3 YR FLR BOND 65,696.81 2 ESLA 7 YR FXR BOND 213,323,150.88 97 ESLA 10 YR FXR BOND 424,932,129.11 64 GOVT OF GHANA 1 YR FXR NOTE 614,980.77 63 GOVT OF GHANA 10 YR FXR BOND 443,877,242.65 128 GOVT OF GHANA 15 YR FXR BOND 120,996,791.88 10 GOVT OF GHANA 182 DAY BILL 58,711,782.65 984 GOVT OF GHANA 2 YR FXR NOTE 770,014,326.70 723 GOVT OF GHANA 3 YR FXR BOND 1,022,122,747.94 815 GOVT OF GHANA 364 DAY BILL 73,768,189.56 250 GOVT OF GHANA 5 YR FXR BOND 868,727,562.21 453 GOVT OF GHANA 6 YR FXR BOND 156,222,980.12 55 GOVT OF GHANA 7 YR FXR BOND 126,468,255.81 100 GOVT OF GHANA 91 DAY BILL 297,904,703.21 4706 COCOA BOARD 182 DAY COCOA BILL 145,528,811.50 368 BARCLAYS BANK OF 13,609,579.75 41 GHANA* TOTAL 4,737,576,669.78 8,924 * 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 17 287.07 million 300 million Edendale Properties Ltd 6 32.65 million 50 million Bayport Financial Services 8 764.37 million 700 million Ghana Home Loans 2 19.00 million 380 million PBC Ltd 2 362.30 million 400 million ESLA Ltd 2 5,664.09million 10,000million Bond Savings & Loans 9 62.13 million 100 million Quantum Terminal Ltd 1 45 million 140 million Dalex Finance Company 1 20.00 million 150 million TOTAL 53 7,336.61 million 12,300.00 million AMOUNT RAISED SO FAR AGAINST SHELF REGISTRATION 900 800 700 600 500 400 300 200 AMOUNT RAISED 100 0 SHELF REGISTRATION 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 2,961,819,671 1,766,518,140 548,047,000 84,287,000 August 3,358,380,590 5,028,535,721 658,394,000 244,746,000 September 3,491,312,515 2,082,485,694 473,026,000 145,194,000 October 3,067,371,443 1,818,679,237 262,240,000 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 TOTAL 24,886,324,306 37,865,317,843 30,703,703,753 1,614,997,000 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 5,746 10,165 126 62 August 6,824 9,283 182 86 September 6,106 8,119 118 99 October 8,197 6,655 101 57 November 7,050 7,126 102 46 December 6,476 7,274 98 64 TOTAL 54,000 82,820 107,264 449 1,113 1,073 6 RANKINGS FOR JUNE 2019 (BASED ON VOLUME TRADED) SELL SIDE VOLUME TRADED TOTAL MARKET TRADES SHARE % 1. ACCESS BANK GHANA LIMITED 621,432,632.94 394 13.12 2. STANDARD CHARTERED BANK GHANA 610,622,936.96 841 12.89 3. STANBIC BANK GHANA LIMITED 547,334,625.48 653 11.55 4. ECOBANK GHANA LIMITED 480,200,708.58 2887 10.14 5. FIDELITY BANK (GHANA) LIMITED 451,448,754.32 764 9.53 6. BARCLAYS BANK GHANA LIMITED 440,715,018.76 549 9.30 7. GCB BANK LIMITED 415,138,580.55 1248 8.76 8. ZENITH BANK GHANA LIMITED 267,661,301.97 135 5.65 9. GUARANTY TRUST BANK (GHANA) LIMITED 155,855,341.32 40 3.29 10. DATABANK BROKERAGE LIMITED 102,032,753.96 70 2.15 11. EDC STOCKBROKERS LIMITED 96,402,721.66 28 2.04 12. SOCIETE GENERALE GHANA LIMITED 85,532,008.46 335 1.81 13. CAL BANK LIMITED 82,228,250.07 309 1.74 14. UNITED BANK FOR AFRICA GHANA LIMITED 73,716,755.18 83 1.56 15. CONSOLIDATED BANK GHANA LTD 73,261,681.07 52 1.55 16. FIRST ATLANTIC BANK 56,985,568.80 14 1.20 17. BLACK STAR BROKERAGE LTD 38,821,757.12 70 0.82 18. CAL BROKERS LIMITED 38,094,535.99 18 0.80 19. IC SECURITIES (GHANA) LIMITED 32,160,115.70 31 0.68 20. STRATEGIC AFRICAN SECURITIES 31,500,833.08 67 0.67 21. FIRST NATIONAL BANK GHANA LIMITED 16,977,388.63 49 0.36 22. ARB APEX BANK LIMITED 6,012,710.00 1 0.13 23. FIRSTBANC BROKERAGE SERVICES LTD 4,462,836.89 24 0.09 24. SIC BROKERAGE LIMITED 2,415,829.73 11 0.05 25. BANK OF GHANA* 1,833,606.18 113 0.04 26.