Ghana Names 15 Banks as Primary Dealers in Government Bonds
- Dealers will lose licenses if found to be underperforming
- Government will stop paying brokerage fees to dealers
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Ghana named 15 banks as primary dealers in the country’s bonds as the West Africa nation seeks to develop its domestic fixed-income market.
Only lenders licensed by the Securities and Exchange Commission and appointed by the central bank will participate in auctions to purchase government debt for their own account and trading purposes, Bank of Ghana said Tuesday in a statement on its website. The primary dealers shall also act as market makers for Treasury bills and bonds in addition to quoting buy and sell prices, it said.