Government of Ghana has ended a seven-week streak of weak performance on the domestic debt market after recording strong demand in its latest Treasury bill auction held on May 8, 2026.
The auction saw total investor bids reach GHC7.83 billion, significantly above the government’s target of GHC4.349 billion. The Treasury ultimately accepted GHC6.087 billion across the 91-day, 182-day and 364-day instruments.
This marks the first time in about eight weeks that the government has exceeded its borrowing target, signalling renewed investor confidence in short-term government securities.
The 91-day bill dominated demand, attracting GHC5.715 billion in bids, of which GHC4.374 billion was accepted at a yield of 4.88%.
The 182-day bill recorded bids of GHC651.22 million, with GHC571.64 million accepted at a yield of 7.03%.
The 364-day bill drew GHC1.462 billion in bids, with GHC1.141 billion accepted at a yield of 10.13%.
Overall, the auction recorded a subscription rate of 180.04%, with an acceptance ratio of 77.74%.
The strong turnout is being interpreted as a return of investor confidence in government short-term instruments, supported by improved liquidity conditions and a relatively stabilising interest rate environment.
Source: 3news.com
