Fidelity Bank Ghana, Societe Generale and Frontclear, completed a USD 40-million repo trade, using Ghanaian Cedi government bond collateral. This trade is the first ever Global Master Repurchase Agreement (GMRA)-documented trade in Ghana and has been made possible thanks to positive regulatory developments such as the recent Bank of Ghana’s ‘Guidelines for Repurchase Agreements in Ghana’ as well as improved capacity within the local market.