Ghana raised GH¢4.72 billion at its most recent Treasury Bill sale.

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

The Government of Ghana, in its latest Treasury Bill auction, raised GH¢4.72 billion on Friday, May 2, falling short of the government’s GH¢6.32 billion target and marking a sharp reversal from the previous week’s oversubscription of GH¢548 million.

Investor demand totaled GH¢5.29 billion, of which GH¢4.72 billion was accepted.

The auction recorded an undersubscription of GH¢1.59 billion, with investors demonstrating a strong appetite for shorter-term instruments, with the 91-day bill accounting for 63.1% of the total amount accepted.

All GH¢2.98 billion tendered for the 91-day paper was accepted, suggesting investors continue to prefer liquidity and lower duration risk.

Meanwhile, GH¢ 668 million was accepted for the 182-day tenor out of GH¢ 869 million tendered, while GH¢ 1.07 billion was secured for the 364-day bill from bids totaling GH¢ 1.43 billion.

Source: newsthemegh.com