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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Government of Ghana fell short of its Treasury bill auction target on November 29, 2024, raising GH¢3.83 billion against a target of GH¢6.09 billion.
The auction marked a GH¢2.26 billion shortfall, the third consecutive undersubscription in eight weeks, after a prior streak of five consecutive oversubscriptions.
The undersubscription reflects waning investor demand despite rising yields across all three tenors.
The 91-day bill accounted for the bulk of bids, securing GH¢2.94 billion, while the 182-day and 364-day bills garnered GH¢669 million and GH¢216 million respectively.
Investors sought higher returns amid Ghana’s fiscal pressures, driving an uptick in yields.
Source: newsthemegh.com