The government plans to raise GH¢6.35 billion on January 17, 2025, through the issuance of 91-day, 182-day, and 364-day treasury bills. This will refinance maturing bills worth GH¢5.53 billion.
Analysts attribute last week’s oversubscription to renewed investor confidence and the appeal of Ghana’s high short-term yields, supported by the cedi’s strong performance.
Last week’s auction saw an oversubscription of GH¢2.88 billion, with total accepted bids of GH¢8.08 billion, surpassing the target of GH¢5.20 billion and maturities of GH¢4.85 billion.
Despite strong demand, yields rose slightly to 28.33% (+14 basis points) for 91-day bills, 28.96% (+5 basis points) for 182-day bills, and 30.17% (+2 basis points) for 364-day bills. Continued robust participation is expected, potentially moderating yields in the weeks ahead.