GHANA FIXED INCOME MARKET SUMMARY OF STATUS REPORT MARCH 2019 1 MEMBERSHIP GFIM as at the end of March 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. 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 GH. Ltd 5. Prudential Bank Limited 6. Republic Bank Ghana Limited 7. UBA Ghana Limited 8. 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-11 5yr Government bond-4 6yr Government bond-1 7yr Government bond-3 10yr Government bond-1 Treasury Notes: 40 1yr Government note- 20 2yr Government note- 20 Treasury Bills: 58 364 day bill-6 182 day bill-26 91 day bill-13 Ghana Cocoa Bill-16 Local US dollar 3-year bond-2 Eurobond-6 Corporate Bonds AFB Ghana Plc 16 Bayport Financial Services (Ghana) 9 Edendale Properties 3 Izwe Loans Ghana 6 PBC Ghana Limited 1 E.S.L.A. Plc 2 Ghana Home Loans Limited 2 Bond Savings and Loans Ltd 11 Quantum Terminal Ltd 1 Dalex Finance and Leasing Company Ltd 1 3 GHANA GOVERNMENT SECURITIES TOTAL OUSTANDING SECURITIES AS AT MARCH 2019 2019 2018 TENOR OF SECURITY AMOUNT GH₵ AMOUNT GH₵ 91-DAY 6,010,142,032 4,986,340,800 182-DAY 3,095,516,068 2,907,435,372 364-DAY 1,651,016,125 - 1-YEAR 3,097,558,044 2,930,512,430 2-YEAR 13,996,601,678 7,534,278,911 3-YEAR 11,579,497,215 8,361,431,383 5-YEAR 12,661,661,126 13,194,203,758 6-YEAR 370,308,430 - 7-YEAR 3,258,128,844 2,150,496,228 10-YEAR 7,861,167,635 7,409,571,636 15-YEAR 4,793,780,961 4,793,780,961 TOTAL 68,375,378,158 54,268,051,479 SECURITIES TRADED ISSUER NAME DESCRIPTION VALUE TRADED NUMBER OF TRADES ESLA 7 YR FXR BOND 130,420,840.74 130 ESLA 10 YR FXR BOND 58,096,988.29 63 GOVT OF GHANA 91 DAY BILL 120,387,716.96 91 GOVT OF GHANA 182 DAY BILL 42,511,481.31 182 GOVT OF GHANA 1 YR FXR NOTE 1,177,527.45 364 GOVT OF GHANA 364 DAY BILL 9,215,723.04 364 GOVT OF GHANA 2 YR FXR NOTE 970,952,489.03 728 GOVT OF GHANA 3 YR FXR BOND 483,383,889.29 1092 GOVT OF GHANA 5 YR FXR BOND 759,615,303.90 1820 GOVT OF GHANA 6 YR FXR BOND 356,278,111.65 2184 GOVT OF GHANA 7 YR FXR BOND 433,295,728.95 2548 GOVT OF GHANA 10 YR FXR BOND 534,417,232.00 3640 GOVT OF GHANA 91 DAY BILL 120,387,716.96 91 COCOA BOARD 182 DAY COCOA BILL 251,685,232.06 353 COCOA BOARD 1 YR FXR NOTE 41,496.04 3 BANK OF GHANA 56 DAY BILL 3,199,682.24 2 BARCLAYS BANK OF 20,903,858.29 51 GHANA* TOTAL 4,175,583,301.24 10,214 * This is not listed on the Ghana Fixed Income Market. 4 GHANA CORPORATE SECURITIES *NO ISSUES IN MARCH 2019 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 1,801,991,461 1,867,904,509 97,200,000 192,371,000 May 3,164,111,390 2,118,923,894 34,000,000 143,650,000 June 3,285,363,905 1,650,430,204 482,740,000 120,545,000 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 11,825,806,291 37,865,317,843 30,703,703,753 781,190,000 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 8,176 6,900 36 106 May 8,674 6,319 21 101 June 6,384 8,643 132 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 25,947 82,820 107,264 239 1,113 1,073 6 RANKINGS FOR MARCH 2019 (BASED ON VOLUME TRADED) SELL SIDE VOLUME TOTAL MARKET TRADED TRADES SHARE % 1. STANBIC BANK GHANA LIMITED 1,120,541,707.07 896 26.84 2. ACCESS BANK GHANA LIMITED 565,189,126.04 387 13.54 3. BARCLAYS BANK GHANA LIMITED 554,408,713.63 535 13.28 4. STANDARD CHARTERED BANK GHANA 466,741,682.56 1072 11.18 5. ECOBANK GHANA LIMITED 362,376,294.66 2743 8.68 6. GUARANTY TRUST BANK (GHANA) LIMITED 251,277,217.43 82 6.02 7. GCB BANK LIMITED 198,270,660.24 1755 4.75 8. FIDELITY BANK (GHANA) LIMITED 157,261,618.51 1564 3.77 9. ZENITH BANK GHANA LIMITED 96,239,061.17 110 2.30 10. DATABANK BROKERAGE LIMITED. 68,039,385.25 73 1.63 11. FIRST ATLANTIC BANK 57,023,447.47 18 1.37 12. CAL BANK LIMITED 52,505,947.47 157 1.26 13. SOCIETE GENERALE GHANA LIMITED 48,310,163.42 310 1.16 14. IC SECURITIES (GHANA) LIMITED. 45,867,287.64 55 1.10 15. CAL BROKERS LIMITED 24,570,389.43 79 0.59 16. STRATEGIC AFRICAN SECURITIES 21,816,429.32 57 0.52 17. UNITED BANK FOR AFRICA GHANA LIMITED 20,028,096.66 46 0.48 18. CONSOLIDATED BANK GHANA LTD 17,000,000.00 2 0.41 19. UNIVERSAL MERCHANT BANK LIMITED 16,138,636.17 38 0.39 20. FIRST NATIONAL BANK GHANA LIMITED 12,550,283.25 40 0.30 21. EDC STOCKBROKERS LIMITED 6,466,505.67 4 0.15 22. SIC BROKERAGE LIMITED 3,120,624.36 39 0.07 23. FIRSTBANC BROKERAGE SERVICES LTD. 3,288,618.73 14 0.08 24. BANK OF GHANA* 1,581,128.97 107 0.04 25. BULLION SECURITIES LIMITED 1,482,100.22 9 0.04 26. BLACK STAR BROKERAGE LTD 1,286,107.14 7 0.03 27. PRUDENTIAL STOCKBROKERS LIMITED 881,053.96 5 0.02 28. REPUBLIC SECURITIES (GHANA) LTD 688,544.13 3 0.02 29. PRUDENTIAL BANK LIMITED 315,627.32 1 0.01 30. UMB STOCKBROKERS LIMITED 229,338.95 1 0.01 31. AFRICAN ALLIANCE SECURITIES GHANA LIMITED 77,358.60 2 0.00 32.