Foreign investor activity in Ghana’s capital markets increased significantly during the first half of 2026, helping to reduce the risk of capital flight, according to the September 2026 Monetary Policy Report. The report attributed the stronger participation to the issuance of new bonds, alongside improving macroeconomic conditions and more favourable prospects for the financial markets. It said lower perceptions of sovereign risk and continued stability in the exchange rate had also helped sustain investor confidence. Together, those factors reduced the likelihood of sudden capital outflows. The report said foreign investor participation was expected to remain strong, provided Ghana maintained its current level of macroeconomic stability. #### Sovereign risk spreads Ghana’s sovereign risk spreads have remained relatively stable since the last Monetary Policy Committee (MPC) meeting, the report added. The country’s performance also compared favourably with that of peer economies in the sub-Saharan Africa region. According to the report, the stability reflected an improvement in investor sentiment. It said this could have a positive knock-on effect on Ghana’s risk ratings, while supporting further inflows of both portfolio investment and foreign direct investment.