For the fourth week in a row, the government failed to meet its Treasury bill target.

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

The government missed its treasury bills target for the fourth consecutive week as investors continued their shift towards high-yielding instruments, including fixed deposits.

According to auction results by the Bank of Ghana, the government T-bills were undersubscribed by nearly 49%.

The Treasury received only GH¢3.2 billion of the bids tendered, as against a target of GH¢6.7 billion.

The majority of the bids came from the 91-day bill. About GH¢2.05 billion was tendered, representing 58.39% of the total bids.

The uptake was GH¢2.01 billion. For the 182-day bill, GH¢1.14 billion of the bids were tendered.

The bids accepted were estimated to the tune of GH¢1.12 billion. In contrast, GH¢321.06 million was tendered for the 364-day bill.

About GH¢184 million was accepted. Meanwhile, the yield went down across the curve.

Source: newsthemegh.com