Bank of Ghana Updates List of Approved Primary Dealers and Bond Market Specialists

The Bank of Ghana (BoG), in collaboration with the Ministry of Finance, has released an updated list of approved Primary Dealers and Bond Market Specialists following a review of the primary dealer system.

Primary dealers are financial institutions authorised to participate directly in government securities auctions and facilitate secondary market trading. They play a key role in supporting government debt issuance, promoting market liquidity, and ensuring active participation by investors. The updated list reflects current regulatory requirements and the performance of participating institutions.

According to officials, the review was part of ongoing efforts to strengthen the bond market and ensure that institutions involved meet enhanced criteria, including capital adequacy, risk management, operational capacity, and reporting standards. These measures aim to make the primary dealer system more robust and sustainable, while supporting the government’s financing needs.

The Bank of Ghana emphasised that a well‑functioning primary dealer network is vital for mobilising domestic savings, facilitating orderly government debt issuance, and enhancing investor confidence. The updated list aligns market practices with international standards, making Ghana’s bond market more attractive to both local and foreign investors.

Authorities stressed that approved dealers and bond market specialists will now be subject to ongoing monitoring and periodic assessments to ensure continued compliance with regulatory requirements. They also urged market participants to familiarise themselves with the new list and to maintain active engagement with regulatory bodies to support market stability and growth.

Analysts note that these reforms are part of broader initiatives to strengthen Ghana’s financial sector, improve transparency, and provide diversified investment instruments for portfolio growth and risk management. The updated approvals are expected to bolster confidence in the bond market, improve market infrastructure, and enhance the government’s ability to finance development projects.

Source: Thepressradio.com