Ghana government raises GH¢9b above target in oversubscribed Treasury Bill auction

The Ghana government raised GH¢9.081 billion in its first Treasury Bill auction on January 8. 

The amount was accepted from GH¢9.1 billion in bids tendered for the 91-day, 182-day and 364-day tenors.  

The figure represented a 20.07 per cent oversubscription of the government’s initial target of GH¢7.564 billion, indicating strong investor confidence at the start of the fiscal year. 

The bulk of the funds came from the 91-day bill, which contributed GH¢6.535 billion, followed by GH¢1.491 billion from the 364-day bill and GH¢1.055 billion from the 182-day bill. 

Weighted average interest rates were established at 11.1 per cent for the 91-day bill, 12.6 per cent for the 182-day bill and 12.98 per cent for the 364-day bill. 

The government has set reduced borrowing target of GH¢7.149 billion for the next Treasury Bill auction, scheduled for January 15. 

Source: GNA 

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