For the first auction after the inauguration of Ghana's President, John Dramani Mahama, the government recorded a massive oversubscription in its treasury bills auction on January 10, 2025.

The auction received total bids amounting to GH¢8.075.75 billion, exceeding the target of GH¢5.198 billion by GH¢2.877.75 billion.

According to results released on January 13, 2025, the government secured GH¢5.513.76 billion for the 91-day bill, accepted GH¢1.416.66 billion for the 182-day bill, and GH¢1.145 billion for the 365-day bill.

However, all bids in this week's auction were accepted.

The interest rates for the latest auction were set at 28.33% for the 91-day bill, 28.96% for the 182-day bill, and 30.17% for the 365-day bill.

Treasury bills have become the government’s primary source of borrowing due to its lack of access to the international capital market.

Meanwhile, the government aims to borrow GH¢6.353 billion in the upcoming auction this week.

SSD/MA

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