services
Comprehensive Suite of Services
At the Central Securities Depository (CSD) Ghana, we offer a comprehensive suite of services designed to ensure the security, efficiency, and transparency of Ghana’s financial markets.
Our services are tailored to meet the diverse needs of issuers, investors, brokers, custodians, and other market participants, supporting the seamless operation of capital markets and fostering economic growth.
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Depository Services
The Central Securities Depository (CSD) plays a pivotal role in managing securities in Ghana’s financial market. It provides a range of services designed to facilitate the smooth operation of the securities market and ensure transparency and security in all transactions.
Registrar Services
The Depository offers Registrar services to listed and unlisted Issuers. Our registry services include maintaining an accurate register of members of a company, management of shareholder enquiries, registration of transfers and transmission, administration of shareholder meetings, processing and distribution of dividend payments and processing of all corporate actions such as IPOs on behalf of our clients. Currently CSD offers registrar services to the following entities
- Access Bank Ghana PLC
- AngloGold Ashanti PLC
- Asante Gold Corporation
- Agricultural Development Bank
- Atlantic Lithium
- Bayport Savings and Loans
- Cocoa Board
- CAL Bank PLC
- Digicut Production
- Fidelity Bank
- Federated Commodities PLC
- Hords Limited
- Izwe Savings and Loans
- Kasapreko Company Limited
- Letshego Savings and Loans
- Mega African Capital
- Meridian Marshall Holdings
- NewGold ETF
- Quantum Terminals PLC
- Scancom PLC (MTN Ghana)
- Tullow Oil PLC
Clearing & Settlement
The Depository has in place an automated clearing and settlement processes for primary and secondary markets transactions involving debt and equity securities. The objective of the automation is to eliminate settlement risks and delays that are associated with manual processing of securities clearing and settlement.
The standard settlement cycle for debt and equity trades are T+2 and T+3 respectively. In addition for debt trades, options for T+0 and T+1 settlement cycles are allowed. Settement is done using the DVP II model. Under the DVP II model the securities and cash are settled on gross and net basis respectively. The settlement Bank is the Central Bank.
The automation is achieved through the straight-through-processing concept. Straight-through-processing is the international standard for securities settlement in the capital market worldwide. The straight-through-processing system was achieved in 2013 through an interface between the CSD system and the Bank of Ghana RTGS system utilizing SWIFT messaging standards.
Account Opening
Investors wishing to buy or deal in securities in Ghana are required to open a securities account with the Depository through one of the Depository Participants (DPs) admitted by the CSD. These accounts are open to:
- Individual Investors
- Corporate Investors
- Foreign Investors
Each investor must approach an accredited DP to initiate account opening.
Auction Services
The CSD oversees the Auction System used by the Bank of Ghana for the sale of government securities (including bills, notes, and bonds).
- Auction Days:
- Government Bills and Notes are auctioned on Fridays from 8:30 AM to 1:00 PM.
- Government Bonds are auctioned according to the Government Issuance Calendar, typically from 8:00 AM to 2:00 PM.
- Auction Process:
- The system processes bids electronically based on predefined criteria (cut-off rate or government borrowing amount).
- The Auction Committee at Bank of Ghana conducts the auction between 3:00 PM and 4:00 PM.
- Results are announced after the auction closes.
Corporate Actions
The Depository is responsible for the processing of interest and maturity payments for debt securities issued by the Government of Ghana, Bank of Ghana, Cocobod, and Barclays Bank of Ghana’s Negotiable Certificate of Deposits (NCDs).
Other corporate actions handled include:
- Bonus Issues
- Rights Issues
Pledging of Securities
CSD’s platform allows investors to pledge securities as collateral for loans, with the following procedures in place:
- Process: Investors pledge securities to financial institutions or lenders, freezing the securities in their account. The lender gains full ownership if the borrower defaults.
- Collateral: Only investors holding securities in CSD accounts can pledge them.
