Ghana's T-bills Oversubscribed by 38% as Investor Confidence Surges

Investor confidence in Ghana's short-term debt market is on the rise, with the latest treasury bill auction recording a 38.14% oversubscription. The Bank of Ghana's data shows that investors submitted GH¢8.01 billion in bids, far exceeding the government's target of GH¢5.80 billion.

The Treasury accepted GH¢6.95 billion, indicating strong demand for risk-free government securities. The 91-day bill led the pack, attracting GH¢4.90 billion in tenders, followed by the 182-day bill with GH¢2.09 billion and the 364-day bill with GH¢1.01 billion.

The yield curve showed mixed movements, with the 91-day bill edging up to 11.08% and the 182-day bill climbing to 12.55%. The 364-day bill saw its yield moderate to 12.70%.

The Treasury is targeting GH¢6.94 billion in its next auction, with momentum still strong. This oversubscription demonstrates investors' continued appetite for Ghana's short-term debt instruments.

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