Ghana raises $5bn on capital market — Finance Ministry

Government has commenced processes for the 2021 International Capital Market Funding Programme.

The Programme is to raise US$5.0 billion to support growth-oriented expenditures in the 2021 Budget and to conduct liability management of both Eurobonds and Domestic Bonds.

A statement issued in Accra by the Ministry of Finance said the Programme instruments would consist of Eurobonds, Diaspora Bonds, Sustainable Bonds, and Syndicated/Bridge Loans.

It said Government was in the process of mandating Bank of America, Citi Bank, Rand Merchant Bank, Standard Chartered Bank and Standard Bank as Lead Managers for the Programme.

The statement said one of the key mandates for the Banks was to advise the Government on various alternative funding structures and options, especially for the Eurobond, that would best fit Ghana's funding requirements and provide the fiscal capacity to further support economic revitalization and recovery.

---GNA