The Government of Ghana has recorded a remarkable 162% oversubscription in its latest Treasury bills auction, reflecting strong investor demand for government securities.
According to auction results released by the Bank of Ghana (BoG), investors showed significant interest in the 364-day Treasury bill, largely attracted by its comparatively high yield. The government ultimately accepted approximately GH¢5.8 billion from the total bids submitted.
The 364-day Treasury bill remained the most heavily subscribed instrument, receiving about GH¢9.9 billion in bids, representing 183% of the amount offered. The government accepted approximately GH¢2.6 billion of the bids.
Meanwhile, the 182-day Treasury bill attracted bids worth about GH¢1.2 billion, with slightly more than GH¢766 million accepted.
The 91-day Treasury bill also recorded strong demand, attracting approximately GH¢3.1 billion in bids, out of which the government accepted slightly above GH¢2.4 billion.
Treasury Bill Interest Rates
The latest auction also saw movements in Treasury bill interest rates and yields across different maturities.
The yield on the 91-day Treasury bill increased by 39 basis points to 5.07%. In contrast, the yield on the 182-day bill declined from 7.27% to 7.08% compared with the previous week.
The 364-day Treasury bill yield rose by 91 basis points to 11.59%, making the longer-term instrument particularly attractive to investors seeking higher returns.
The strong demand for Ghana Treasury bills highlights continued investor interest in government securities, fixed-income investments and high-yield investment opportunities amid changing interest rates in Ghana’s financial market.
Source: newsthemegh.com