The Government of Ghana has posted another strong showing in its latest treasury bill auction, with investor demand exceeding the target by an impressive 96% — despite declining yields across short-term government securities.
According to data from the Bank of Ghana, the government aimed to raise GHS 7.70 billion but accepted GHS 15.16 billion in bids, marking the second consecutive oversubscription in recent weeks.
A closer look at the auction results reveals:
- 91-day bill: GHS 13.43 billion tendered; GHS 5.07 billion accepted
- 182-day bill: GHS 8.71 billion tendered; GHS 5.72 billion accepted
- 364-day bill: GHS 5.94 billion tendered; GHS 4.35 billion accepted
Yields declined across the board:
- 91-day dropped to 10.83% (down 289 basis points)
- 182-day fell to 13.22% (from 14.61%)
- 364-day eased to 14.30%
May Interest YouWant to Build a Business That Lasts? Start with Financial Planning
This performance reflects sustained investor interest and growing confidence in short-term government instruments. The government now targets to raise GHS 3.86 billion in the next auction.
#GhanaEconomy #TBillAuction #InvestorConfidence #BankofGhana #PublicFinance #FixedIncome #GhanaMarkets #TreasuryBills #InvestmentInsights
