Investor confidence in Ghana’s treasury market surged following the successful completion of the fifth review of the country’s programme with the International Monetary Fund (IMF).
According to trading data from the Bank of Ghana, treasury bills were oversubscribed by 23.5%, marking a strong rebound after two consecutive weeks of undersubscription.
The government raised GH¢6.507 billion against a target of GH¢5.269 billion, ultimately accepting GH¢6.33 billion of the total bids.
Short-term securities continued to dominate investor interest, with the 91-day bill accounting for more than 83% of total bids. Subscriptions for the 91-day bill amounted to GH¢5.415 billion, out of which GH¢5.409 billion was accepted.
For the 182-day bill, investors tendered GH¢941.71 million, with GH¢786.71 million accepted. Meanwhile, the 364-day bill received bids worth GH¢150.4 million, and GH¢140.4 million was accepted.
In terms of yields, the rate on the 91-day bill rose by 6 basis points to 10.53%, while the 182-day bill declined slightly to 12.30% from 12.35% the previous week. The yield on the 364-day bill also increased by 9 basis points to 12.87%.
