In the first auction following Ghana’s President John Dramani Mahama’s inauguration, the government experienced a significant oversubscription on January 10, 2025, with total bids reaching GH¢8.075.75 billion—surpassing the GH¢5.198 billion target by GH¢2.877.75 billion.
Results published on January 13, 2025, show the government raised GH¢5.513.76 billion from the 91-day bill, secured GH¢1.416.66 billion for the 182-day bill, and obtained GH¢1.145 billion for the 365-day bill. Notably, “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.”
Given limited access to the international capital market, treasury bills have become the government’s main borrowing avenue. In the upcoming auction, the government plans to borrow “GH¢6.353 billion.”
