Ghana plans to raise ₵10 billion ($935 million) through its first domestic infrastructure bond.
The government will use the funds to build roads, interchanges, and other critical projects nationwide, boosting connectivity.
Moreover, the sale will split into two ₵5 billion tranches, scheduled for the first and second halves of the year.
Ghana First Infrastructure Bond
To attract both local and institutional investors, officials will offer longer-term maturities with stable returns.
Next, authorities will release details of the offering in an official issuance calendar later this month.
Although the Ministry of Finance declined comment, Bloomberg reported that sources familiar with the plan confirmed it.
Importantly, much of the funding will come from electronic road tolls, allowing the projects to finance themselves sustainably.
Economic Recovery In Motion
Under President John Mahama’s “Big Push” initiative, the government aims to mobilise $10 billion for major infrastructure projects.
The finance ministry has already allocated ₵30 billion in the 2026 budget, more than doubling last year’s funding.
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Consequently, the government hopes infrastructure investment will stimulate growth, create jobs, and strengthen the economy.
After the 2022 debt crisis cut Ghana off from capital markets, the country now sees investor confidence returning.
For example, yields on 2039 cedi bonds fell more than ten percentage points in the past year.
In addition, the cedi appreciated 41% against the US dollar, reflecting improved currency stability.
Inflation dropped to 5.4% in December, its lowest level in 23 years, easing pressure on households.
Furthermore, food and non-food prices moderated, signalling broad-based price stability across consumer goods.
Turning Point For Investment
Ghana now plans to exit its $3 billion IMF bailout programme in May after implementing economic reforms.
Meanwhile, the IMF has praised Ghana’s efforts to develop domestic capital markets but urges the government to maintain debt sustainability.
If the bond succeeds, Ghana could signal a turning point for investment, infrastructure, and long-term economic progress.
