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Business News of Monday, 17 May 2021

Source: thebftonline.com

BoG appoints primary dealers, bond market specialists

The Bank of Ghana Headquaters The Bank of Ghana Headquaters

The Bank of Ghana (BoG) has selected some 17 banks and non-banks to operate as primary dealers. It has also chosen nine out of the primary dealers to be bond market specialists.

A notice to the general public issued by the Bank of Ghana dated May 12, this year, signed by Sandra Thompson, Secretary to the bank, which made this known, said after undertaking a review of the Primary Dealer System, the Ministry of Finance invited banks and non-banks to apply to be Primary Dealers (PDs) and Bond Market Specialists (BMSs).

“Following the evaluation of the applications received, the following have been selected as PDs: Absa Bank, Access, Fidelity Bank, Ecobank, Guaranty Trust Bank, Societe Generale Bank, Stanbic Bank, GCB Bank, CAL Bank, Consolidated Bank Ghana (CBG), ARB Apex Bank, Standard Chartered Bank, Agricultural Development Bank, ICSecurities, Databank Brokerage Ltd, Obsidian Achernar, Black Star Brokerage Ltd,” the notice stated.

The following institutions out of the PDs have been selected as Bond Market Specialists for the issuance of Government bonds through the book-building process. These comprise international and local banks as well as investment advisory firms such as Stanbic Bank, GCB Bank, Black Star Brokerage Ltd, Ecobank Ghana, CAL Bank, ICSecurities, Absa, Fidelity Bank and Databank Brokerage Ltd.

The Bank of Ghana has therefore asked the general public to take notice of the new arrangement and be guided accordingly.

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