Pecohub Ghana is preparing to raise ₵10 billion ($935 million) through its first domestic infrastructure bond to finance roads and interchanges across the country.
The sale will be split into two tranches of ₵5 billion each, issued in the first and second halves of the year, with longer-dated tenures.
Details of the offering, along with other domestic bond issuances, are expected to be published in an issuance calendar later this month.
Though a spokesman at the Ministry of Finance declined to comment, Bloomberg says the news was confirmed by people familiar with the matter.
According to one source, the projects will be self-financed, largely through electronic road tolls, ensuring they do not add to Ghana’s debt burden.
President John Mahama is banking on infrastructure investment to drive economic revival under his Big Push initiative, which aims to mobilize $10 billion for major projects.
The government has already scaled up funding, with the finance minister allocating ₵30 billion for the plan in the 2026 budget—more than double the ₵13.8 billion earmarked last year.
Africa’s largest gold producer is seeking to leverage improved investor sentiment as it recovers from a debt crisis under the previous administration, which culminated in a 2022 default that cut the country off from capital markets.
Investor confidence has strengthened, with yields on Ghana’s cedi bonds due 2039 falling more than 10 percentage points in the past year to around 16%.
Ghana is also on track to exit its $3 billion bailout program with the International Monetary Fund (IMF) in May, following progress in its economic turnaround plan.
Key indicators have improved significantly:
- Inflation slowed to a 23-year low of 5.4% in December, down from nearly 54% in 2023.
- The cedi appreciated 41% against the dollar last year.
