Ghana’s Treasury market saw high demand for the second week in a row.

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

Ghana’s Treasury market recorded its second consecutive week of strong demand, posting a 38% oversubscription across the short-term bills.

According to auction results published by the Bank of Ghana, government targeted GH¢5.80 billion but attracted total bids amounting to GH¢8.01 billion.

Authorities, however, accepted GH¢6.95 billion.

Market activity was once again dominated by the 91-day paper, which accounted for a little over 61% of total bids.

Investors tendered about GH¢4.9 billion in three-month bills, with government accepting GH¢4.0 billion.

For the 182-day tenor, total bids reached GH¢2.09 billion, out of which GH¢1.85 billion was taken up.

The 364-day bill also saw strong demand, with GH¢1.01 billion tendered. A little above GH¢1.0 billion was accepted.

Source: newsthemegh.com