In its Treasury Bill auction on February 27, 2026, the government recorded GH¢14.82 billion in bids against a target of GH¢5.81 billion, reflecting robust demand for short-term debt instruments.

Data from the Bank of Ghana (BoG) shows that the treasury accepted GH¢8.8 billion out of the GH¢14.82 billion submitted, rejecting approximately GH¢6.01 billion.

The strong subscription levels came amid declining yields across all tenors, underscoring sustained investor appetite for government securities.

The 91-day bill attracted GH¢6.83 billion in bids, of which GH¢3.74 billion was accepted.

Here's the breakdown of government's latest treasury bill sales

The 182-day bill recorded GH¢2.83 billion in bids, with GH¢1.52 billion accepted.

The 364-day bill received GH¢3.54 billion in bids, with GH¢5.17 billion accepted.

For its next auction, the government has set a target of GH¢5.68 billion across the 91-, 182-, and 364-day bills.

Some market analysts note that the persistent oversubscription, coupled with declining yields, signals improving liquidity conditions and sustained investor confidence in government securities, with demand increasingly concentrated in shorter-dated instruments.

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