The Government of Ghana raised GH¢4.87 billion from its latest Treasury bill auction, missing its financing target despite strong demand from investors for short-term government securities.
According to results released by the Bank of Ghana for Tender 2009, conducted on May 29, 2026, investors submitted bids worth GH¢4.92 billion across the 91-day, 182-day and 364-day Treasury bills. Out of the total amount tendered, the government accepted GH¢4.87 billion.
Although the auction attracted substantial interest, the amount raised fell short of the government’s target of GH¢5.89 billion by just over GH¢1 billion.
The 91-day Treasury bill remained the most sought-after instrument, attracting bids worth GH¢3.37 billion. Government accepted GH¢3.36 billion of those bids, accounting for the bulk of funds raised during the auction.
For the 182-day bill, investors tendered GH¢749.67 million, with GH¢705.65 million accepted. The 364-day bill recorded bids of GH¢797.98 million, all of which were accepted.
Interest rates continued to remain relatively low across all tenors. The weighted average yield on the 91-day bill settled at 4.99 per cent, while the 182-day bill recorded a yield of 7.04 per cent. The 364-day bill cleared at 10.46 per cent.
The latest auction marks an improvement from the previous Tender 2008 auction held on May 22, 2026, where government received bids worth GH¢4.22 billion and accepted GH¢3.93 billion.
Looking ahead, the government is targeting GH¢5.44 billion in the next Treasury bill auction, Tender 2010, through the issuance of 91-day, 182-day and 364-day bills.
