The Government of Ghana has raised GH¢11.53 billion from its latest government securities auction, following strong investor demand for Treasury bills and a four-year foreign exchange-related (FXR) bond.
Investors submitted total bids of GH¢14.40 billion, highlighting continued confidence and strong demand for Ghana government securities and fixed-income investment products.
The latest auction, identified as Tender 2023, was conducted on September 4, 2026, for securities scheduled to be issued on September 7, according to data from the Bank of Ghana (BoG).
Strong Demand for Ghana Treasury Bills
Investors submitted approximately GH¢9.94 billion in bids for the 91-day, 182-day and 364-day Treasury bills.
The government accepted GH¢8.38 billion across the three Treasury bill maturities, exceeding its target of GH¢6.55 billion by about 27.88%.
The strong uptake resulted in an estimated 84.34% acceptance rate for Treasury bill bids received during the auction. This represents a significant improvement compared with the 52.87% acceptance rate recorded at the previous auction.
The figures indicate continued investor appetite for short-term government securities in Ghana, particularly Treasury bills offering relatively attractive returns.
Ghana Treasury Bill Interest Rates
The weighted average interest rate on the 91-day Treasury bill stood at 4.81%, while the 182-day bill cleared at 6.68%.
The longer-term 364-day Treasury bill recorded a weighted average interest rate of 10.12%, reflecting the higher returns available on longer-dated government securities.
The corresponding weighted average discount rates were:
- 91-day Treasury bill: 4.75%
- 182-day Treasury bill: 6.47%
- 364-day Treasury bill: 9.19%
Four-Year Ghana Government Bond Attracts GH¢4.46 Billion in Bids
The four-year FXR bond also attracted substantial investor interest, with bids amounting to GH¢4.46 billion.
The strong participation in the bond market, alongside demand for Treasury bills, contributed to the government’s overall GH¢11.53 billion fundraising from the latest auction.
The results underscore the important role of Ghana’s domestic capital market in government financing and debt management.
Investors Maintain Strong Interest in Ghana Government Securities
The latest auction results point to continued strong demand for Ghana Treasury bills and government bonds, as investors seek opportunities in the country’s fixed-income market.
The higher acceptance rate for Treasury bills compared with the previous auction also signals increased government appetite to meet its financing requirements through the domestic securities market.
With interest rates, Treasury bill yields and government borrowing remaining closely watched by investors, the latest auction provides an important indication of current conditions in Ghana’s financial and fixed-income markets.
Source: newsthemegh.com