- Treasury Bill Auction Raises GH¢4.87bn as Yields Stay Below 11%
The Government of Ghana raised GH¢4.87 billion from the latest Treasury bill auction, falling short of its target by a little over GH¢1 billion, according to auction results released by the Bank of Ghana.
Results of Tender 2009, held on May 29, 2026, showed that total bids tendered by investors amounted to GH¢4.92 billion, out of which the government accepted GH¢4.87 billion across the 91-day, 182-day and 364-day bills.
The amount accepted was below the government’s stated target of GH¢5.89 billion for the auction.
The 91-day bill attracted the strongest investor demand, with bids amounting to GH¢3.37 billion. Government accepted GH¢3.36 billion from that tenor.
For the 182-day bill, investors tendered GH¢749.67 million, out of which GH¢705.65 million was accepted. The 364-day bill attracted GH¢797.98 million, with the full amount accepted.
Yields remained in single digits for the shorter tenors.
The weighted average interest rate on the 91-day bill settled at 4.9901 per cent, while the 182-day bill cleared at 7.0434 per cent. The 364-day bill recorded a weighted average interest rate of 10.4593 per cent.
The latest result compares with the previous auction, Tender 2008, held on May 22, 2026, where government received total bids of GH¢4.22 billion and accepted GH¢3.93 billion.
For the next auction, Tender 2010, government is targeting GH¢5.44 billion from the sale of 91-day, 182-day and 364-day Treasury bills.
The latest auction suggests that investor appetite for short-term government securities remains strong, although not enough to meet government’s full financing target for the week.
The relatively low yields also point to the sharp easing of short-term borrowing costs, giving government some relief in domestic debt servicing compared with the high-interest-rate environment of previous years.
