Wednesday 11, April 2018 by William Mullally

Ghana discloses possible plans for Sukuk in 2018

“We have Sukuk, Samurai and Panda bonds in the mix for the 2.5 billion dollars envelope,” said Finance Minister Ken Ofori-Atta to Bloomberg.

Ghana may be the latest African nation to launch a sovereign Sukuk. According to Ofori-Atta, while speaking to Bloomberg News, Ghana's government is considering Sukuk, Panda bonds in China, and Samurai bonds in Japan. Thse choices are reportedly being made to drive down the cost of the country's next sovereign bond issuance. 

Ofori-Atta has stated that Ghana is seeking to diversify their funding sources in order to attract a more desirable coupon rate throughout emerging markets. In April, Ghana is expected to raise roughly $1.5 billion from sovereign bond issuance. Ofori-Atta told Bloomberg News that the government wants to restructure Ghana's debt in order to lessen its impact on the Ghanaian economy.

“We have Sukuk, Samurai and Panda bonds in the mix for the 2.5 billion dollars envelope,” said Ofori-Atta to Bloomberg.

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