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Wednesday, 28 October 2026
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Ghanaian press · Organization

Databank Research

Also known as: Databank Group

Databank Research — financial research firm providing analysis and forecasts on Ghana's bond markets, currency movements, fiscal performance, and economic growth.

2026-04-282026-10-28
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In coverage

Verbatim sentences from the source article.

  1. August 2026

  2. Joy Online

    … Databank Research expects secondary-market activity to remain firm, supported by improving real returns and anticipated reinvestment flows, which should underpin demand across the curve.

    Bond market: Turnover surges 148.95% week to GH¢5.67 billion

  3. Joy Online

    … Databank Research this is broadly in line with its earlier projection where the dollar remained at range-bound, trading between GH¢11.60 and GH¢11.70 over the review period. …

    Cedi depreciates further but maintains a firm grip on forex support
  4. July 2026

  5. Joy Online

    … Databank Research expects secondary-market activity to remain supported by month-end portfolio rebalancing. …

    Bond market: Turnover increased by 177% to GH¢5.01bn

  6. Joy Online

    … Databank Research believes the modest interbank slippage largely stems from sustained pressures on derived demand outpacing a policy-anchored forex supply. …

    Cedi depreciates 9.5% against dollar in interbank market

  7. Joy Online

    … Databank Research believes the modest interbank slippage largely stems from sustained pressures on derived demand outpacing a policy-anchored forex supply. …

    Cedi weakens modestly in interbank market but remans stable in retail market; one dollar equals GH¢12.20

  8. Joy Online

    … Databank Research believes the modest interbank slippage largely stems from sustained pressures on derived demand outpacing a policy-anchored forex supply. …

    Cedi weakens modestly in interbank market but remans stable in retail market; one dollar equals GH¢12.20

  9. Joy Online

    … Databank Research intimated that it expects secondary bond market activity to gain traction this week. …

    Bond market: Turnover rose 56% to GH¢2.44bn

  10. Joy Online

    … Databank Research expects the secondary bond market activity to remain supported in the coming weeks, as the third quarter 2026 issuance calendar signals renewed market engagement. …

    Bond market: Turnover increased by 56% to GH¢2.44bn
  11. June 2026

  12. Joy Online

    … ccounting for just 3.91% of turnover at an average yield of 14.64%. “We attribute the moderation in bond market activity in part to the recent upward repricing of Treasury bill yields, which has improved the relative appeal of shorter-duration instruments”, said Databank Research …

    Bond market: Turnover declines by 71% to GH¢1.56bn

  13. Joy Online

    … Databank Research believes the slight decline in turnover reflects a normalisation in market activity rather than a shift in sentiment. …

    Bond market: Turnover declines by 24% to GH¢5.41bn
Business

Ghana cedi weakens 1.42% against US dollar in two weeks

The News

The Ghana cedi depreciated by 1.42% against the US dollar in the interbank market and 1.45% in the retail market over two weeks, selling at GH¢11.79 and GH¢12.10 respectively, while showing mixed performance against other major currencies. Databank Research attributes the weakness to persistent pre-festive import demand and higher energy costs, but expects potential near-term support from gold sales and Bank of Ghana interventions.

12 October 2026 · Joy Online →

Monday 12 October

  1. Ghana cedi weakens 1.42% against US dollar in two weeks

    The Ghana cedi depreciated by 1.42% against the US dollar in the interbank market and 1.45% in the retail market over two weeks, selling at GH¢11.79 and GH¢12.10 respectively, while showing mixed performance against other major currencies. Databank Research attributes the weakness to persistent pre-festive import demand and higher energy costs, but expects potential near-term support from gold sales and Bank of Ghana interventions.

    12 October 2026 · Joy Online →

  2. Bond market turnover surges 47% to GH¢4.07 billion

    Secondary market activity increased week-on-week with turnover reaching GH¢4.07 billion, concentrated in short-to-medium maturities. Following Moody's upgrade of Ghana's sovereign rating to B3 from Caa1, analysts expect sustained bond market activity in the near term.

    12 October 2026 · Joy Online →

Tuesday 6 October

  1. Ghana bond market turnover surges 77% to GH¢2.76bn

    Secondary market activity strengthened with turnover rising 77.13% week-on-week to GH¢2.76 billion, concentrated in the 2027-2030 segment at 70.08% of activity. Databank Research expects bond market activity to remain subdued as investors await an October 7th inflation print that could provide fresh direction for treasury yields.

    6 October 2026 · Joy Online →

Monday 5 October

  1. Government exceeds treasury bills target by 30 percent

    The government exceeded its treasury bills auction target by 30.52% to GH¢2.93 billion, accepting GH¢1.77 billion of total bids. Yield rates declined across the 91-day, 182-day, and 364-day bills, though demand is expected to remain relatively soft at the next auction.

    5 October 2026 · Joy Online →

Tuesday 29 September

  1. Cedi weakens 10% this year amid Christmas demand

    The cedi depreciated 10.04% year-to-date against the US dollar, driven by sustained forex demand from energy and manufacturing sectors, Fed rate hikes, and seasonal festive spending; it was trading at GH¢11.90 at forex bureaus.

    29 September 2026 · Joy Online →

  2. Cedi weakens on Christmas demand and dollar strength

    The cedi weakened against the US dollar over a fortnight, depreciating 10.04% year-to-date, driven by sustained forex demand from energy and manufacturing sectors, tight interbank supply, and US dollar strength following the Fed's rate hike. The currency is expected to weaken further into the festive season.

    29 September 2026 · Joy Online →

Monday 28 September

  1. Bond market turnover drops 28.56% to GH¢1.56bn

    Secondary bond market activity slowed with turnover declining 28.56% week-to-week to GH¢1.56 billion, concentrated in the 2031-2034 segment. Databank Research expects modest improvement this week from month-end portfolio rebalancing, though gains may be limited as investors redirect liquidity toward COCOBOD's GH¢16.3bn issuance programme.

    28 September 2026 · Joy Online →

Wednesday 23 September

  1. Ghana cedi depreciates 9.5% through September 2026

    The Ghana cedi depreciated by 9.5% in the interbank market in the nine months through September 2026, trading at GH¢11.55 to one US dollar, compared with 18.45% appreciation during the same period in 2025. The cedi has lost approximately 8% in the retail market since January 2026.

    23 September 2026 · Joy Online →

Tuesday 22 September

  1. MTN Ghana profit rises 44.5% in first-half 2026

    MTN Ghana recorded a profit before tax of GH¢7.4 billion in the first-half of 2026, an increase of 44.5% over the previous year, with service revenue reaching GH¢14.9 billion, up 32.3%. Databank Research expects the company to extend earnings into the second-half of 2026 supported by its data and fintech businesses, network modernisation investments, and the merger of its MobileMoney entities.

    22 September 2026 · Joy Online →

Monday 21 September

  1. T-bill yields expected slightly higher in Ghana's second-half 2026

    Databank Research projects the 91-day bill to trade within 5.5%–7.5% and the 364-day bill within 12.5%–14.0% in the second half of 2026, driven by competing effects of cost containment and higher funding requirements, with the GH¢10.8 billion DDEP coupon payment in August providing liquidity support.

    21 September 2026 · Joy Online →

Wednesday 16 September

  1. Databank forecasts cedi at GH¢12.20 per dollar by end-2026

    Databank Research has revised down its exchange-rate forecast by 65 basis points, citing stronger foreign exchange inflows and an improving external position. The forecast expects the cedi to stabilize through Bank of Ghana forex interventions estimated at US$1.2–1.5 billion during peak demand periods later in 2026.

    16 September 2026 · Joy Online →

Tuesday 15 September

  1. Cedi weakens to GH¢11.95 per dollar amid forex demand surge

    The cedi depreciated 1.85% in the interbank market to GH¢11.46 per dollar over a fortnight, reversing some August gains, as strong corporate and offshore forex demand for imports and coupon repatriation outpaced interbank supply. Databank Research expects mild depreciation to continue, though planned forex injections from GoldBod and Bank of Ghana support should help stabilize liquidity.

    15 September 2026 · Joy Online →

  2. Databank revises Ghana's 2026 fiscal deficit projection downward

    Databank Research revised its year-end fiscal deficit projection from 2.5% to 2.2% of GDP, citing a GH¢35.1 billion underspend in the first half of 2026 and a GH¢302 billion expenditure cap that offset a GH¢1.3 billion revenue shortfall. The research arm attributes the improved outlook to disciplined spending, a primary surplus forecast of 1.5% of GDP, and structural reforms including the transition to an IMF Policy Coordination Instrument.

    15 September 2026 · Joy Online →

  3. Ghana bond market turnover nearly doubles to GH¢4.13 billion

    Secondary market activity rebounded strongly with turnover nearly doubling by 94.65% week-on-week to GH¢4.13bn, with trading concentrated in 2031–2034 maturities accounting for 53.75% at an average yield of 13.90%.

    15 September 2026 · Joy Online →

Monday 14 September

  1. MPC expected to cut policy rate to 12.5% in September 2026

    According to Databank Research, the Monetary Policy Committee may cut the policy rate by 150 basis points to 12.5% in September 2026, consistent with inflation correction towards the Bank of Ghana's medium-term target of 8% ± 2%. Inflation reaccelerated to 5.3% in June 2026 from 3.8% in January 2026, though financial conditions have supported credit growth and banking sector capital buffers remain solid.

    14 September 2026 · Joy Online →

Thursday 10 September

  1. Ghana's 2026 GDP growth to exceed 6.5%, Databank forecasts

    Databank Research projects Ghana's real GDP growth will exceed 6.5% by end-2026, up from 6.0% in 2025, driven by structural reforms, monetary easing, and recovery in industrial sub-sectors. The firm credits early momentum from Q1 2026's 6.4% year-on-year expansion and forecasts Services sector growth of 8.1%, Agriculture 6.8%, and Industrial 4.9%.

    10 September 2026 · Joy Online →

Tuesday 8 September

  1. Bond market turnover falls 68% week-on-week to GH¢2.12bn

    Secondary market activity weakened with turnover falling 68.28% to GH¢2.12 billion, with trading concentrated in 2031-2034 maturities. In the primary market, a new four-year bond maturing in September 2030 attracted GH¢4.46 billion in bids, with GH¢3.15 billion accepted at 12.00% clearing yield.

    8 September 2026 · Joy Online →

Thursday 3 September

  1. Ghana Stock Exchange projected 81% return for 2026

    The Ghana Stock Exchange is expected to close 2026 with an 81% return (±500 basis points) for investors, according to Databank Research. The projection is supported by strong corporate earnings, disinflation, and potential valuation upside across financial stocks, telecoms, FMCG, and oil marketing sectors.

    3 September 2026 · Joy Online →

Tuesday 25 August

  1. Bond market activity weakens as turnover fell 58%

    Secondary market activity on Ghana's bond market weakened last week, with turnover falling 58.18%, reversing the previous week's 51.80% gain. Databank Research attributed the decline to the ex-coupon period and liquidity injection that diverted proceeds to the treasury bill market, though it expects activity to recover through coupon reinvestment flows.

    25 August 2026 · Joy Online →

  2. T-bill yields compress further as investor demand remains strong

    Treasury bill yields fell across the curve after strong investor demand last week resulted in bids of GH¢14.27 billion against a GH¢5.43 billion target, driven by improved liquidity from the Domestic Debt Exchange Programme coupon payment. Analysts expect sustained demand and continued downward pressure on yields in the coming week.

    25 August 2026 · Joy Online →

Tuesday 11 August

  1. Ghana bond market turnover surges to GH¢5.67 billion week-on-week

    Secondary market activity strengthened with turnover surging 148.95% week-on-week to GH¢5.67 billion, with investor activity concentrated in the belly of the curve at 2031-2034 maturities. Databank Research expects secondary-market activity to remain firm, supported by improving real returns and anticipated reinvestment flows.

    11 August 2026 · Joy Online →

Monday 3 August

  1. Cedi depreciates modestly but forex support stabilizes market

    The Ghana cedi depreciated 0.47% against the US dollar in the interbank market over two weeks while remaining broadly stable in the retail segment, closing at GH¢11.69 to the dollar. The Bank of Ghana provided an estimated US$1.0 billion in forex support in July, with Databank Research expecting continued mild weakness from commercial demand and energy imports.

    3 August 2026 · Joy Online →

Tuesday 28 July

  1. Bond market turnover surges 177% to GH¢5.01 billion

    Secondary-market activity strengthened markedly, with turnover increasing 177.86% week-on-week to GH¢5.01 billion, driven mainly by 2027-2030 maturities (58.93% of trades). Databank Research expects momentum to continue supported by month-end rebalancing, an anticipated IMF disbursement of US$318 million, and the Mid-Year Budget's GH¢30 billion sinking-fund commitment.

    28 July 2026 · Joy Online →

Wednesday 22 July

  1. Ghana cedi depreciates 9.5% against dollar in seven months

    The Ghana cedi depreciated by approximately 9.5% against the US dollar in the interbank market over the first seven months of 2026, trading at GH¢11.55 per dollar in July 2026 compared with GH¢10.50 in July 2025. In the retail market, the cedi has gained about 0.50% in value since January 2026 and presently trades at GH¢12.20 per dollar.

    22 July 2026 · Joy Online →

Tuesday 21 July

  1. Ghana cedi weakens modestly in interbank market, stable in retail

    The Ghana cedi depreciated 1.39% against the US dollar in the interbank market over the past two weeks, closing at GH¢11.55 per dollar, but remained broadly stable in the retail market at GH¢12.05 per dollar. Databank Research attributes the weakness to sustained pressure on derived demand outpacing policy-anchored forex supply.

    21 July 2026 · Joy Online →

  2. Ghana cedi weakens in interbank market, stable in retail

    The Ghana cedi depreciated 1.39% against the US dollar in the interbank market over two weeks but remained unchanged at GH¢12.05 in the retail market. Databank Research attributes the modest interbank weakness to sustained pressures on derived demand outpacing policy-anchored forex supply, with the cedi expected to remain broadly stable within the GH¢11.40 to GH¢11.70 range.

    21 July 2026 · Joy Online →

Wednesday 15 July

  1. Ghana bond market turnover rises 56% to GH¢2.44bn

    Secondary market activity in Ghana's bond market surged 56.45% week-on-week to GH¢2.44 billion, with trading concentrated in 2031–2034 maturities accounting for 66.19% of turnover at 14.07% average yield. Databank Research expects secondary bond market activity to gain further traction in the near term amid favourable liquidity conditions.

    15 July 2026 · Joy Online →

Tuesday 7 July

  1. Bond market turnover rises 56% to GH¢2.44bn week-on-week

    Secondary bond market turnover increased by 56.45% week-on-week to GH¢2.44 billion, with trading concentrated in 2031-2034 maturities (53.24% of volume) and 2027-2030 segment (44.40%). Databank Research expects secondary market activity to remain supported by the government's planned net issuance of GH¢15.39 billion in Q3 2026.

    7 July 2026 · Joy Online →

Tuesday 30 June

  1. Bond market turnover falls 71% to GH¢1.56 billion

    Secondary market activity declined sharply week-on-week, with turnover dropping 71.11% to GH¢1.56 billion, concentrated in 2031–2034 maturities. Databank Research attributes the slowdown to higher Treasury bill yields and expects recovery this week as portfolio managers rebalance positions.

    30 June 2026 · Joy Online →

Tuesday 23 June

  1. Bond market turnover falls 24% to GH¢5.41 billion

    Secondary market turnover declined by 24.52% week-on-week to GH¢5.41 billion, with trading concentrated in the 2031-2034 maturity bucket at 67.69% of activity. Databank Research attributes the decline to market normalisation rather than a shift in sentiment, and expects end-of-month portfolio rebalancing to support activity ahead.

    23 June 2026 · Joy Online →

Databank Research — Ghanaian press coverage · Ghana Minute