Interest Rates

Ghana Overtake Egypt With Highest Interest Rates Among 15 Top African Countries
12 Jul

Ghana Overtake Egypt With Highest Interest Rates Among 15 Top African Countries

Wontumi1Business, , ,
Ghana overtook Egypt with the highest interest rates among 15 top African countries. According to the Weekly Fixed Income Update compiled by some investment firms, the rates of about 24.39% and 26.03% for the 91-day and 182-day treasury bills were the highest among these top African economies. Despite the rates falling significantly in March 2023 due to the Domestic Debt Exchange Programme, they have gone up consistently to almost 30% (364-day bill) since then, and are also classified among the highest globally. The 91-day bill and 182-day bill have fallen by 10.97% and 9.95% since March 2023. Again, average lending…
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T-bills Auction: Interest Rates Rise To 27.8%; Government Records 6.4% Oversubscription Of Target
12 Jun

T-bills Auction: Interest Rates Rise To 27.8%; Government Records 6.4% Oversubscription Of Target

Wontumi1Business, ,
Government recorded about 6.4% oversubscription of its treasury bills target of ¢2.63 billion but an increasing cost. According to figures from the Bank of Ghana, interest rates surged for the eighth-week running, raising concerns about the government’s debt management strategy, aimed at cutting Ghana’s debt. The government has been borrowing heavily on the money market since the beginning of 2023 but at a higher cost. This is because it is the only source of borrowing. The rising interest rates are expected to keep high the domestic interest payments of the government. The figures from the Bank of Ghana indicate that…
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Interest Rates-Reset Key To Private Sector Growth
12 May

Interest Rates-Reset Key To Private Sector Growth

Wontumi2Business
Amid the current economic crisis brought about by the COVID-19 pandemic and Domestic Debt Exchange Programme, one key solution for supporting growth of the private sector is resetting interest rates in the economy, Managing Director-Stanbic Investment Management Services, Kwabena Boamah, has advocated. Speaking during a panel discussion at The Money Summit 2023 organised by B&FT, Mr. Boamah emphasised that investing in long-term investments is the way to beat inflation rather than relying on Treasury bills and fixed deposits. “In March, we saw Treasury bill rates drop and people were asking questions: why should the rates drop when inflation is about…
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