The government raised a total of GH¢3.34 billion from the domestic debt market at the latest treasury bills auction held on June 27, 2025, falling slightly short of its GH¢3.86 billion target.

Data published by the Bank of Ghana (BoG) shows that investor demand remained strong with bids totaling GH¢3.64 billion across the 91-day, 182-day, and 364-day bills.

However, only GH¢3.34 billion was accepted by the government, suggesting a cautious approach to managing borrowing costs amid rising yields.

The 91-day bill attracted the lion’s share of interest, with bids amounting to GHc 2.90 billion, all of which were accepted.

The weighted average discount rate for the instrument stood at 14.17% slightly below the market range of 14.30% to 15.10%.

Meanwhile, the 182-day and 364-day bills saw lower investor uptake, with GH¢385.82 million and GH¢60.81 million accepted respectively.

The corresponding interest rates were 15.25% for the 182-day bill and 15.66% for the 364-day bill both reflecting higher investor return expectations compared to prior weeks.

The government in its June 20, 2025, auction raised GH¢2.95 billion from total bids of GH¢3.37 billion reinforcing a steady pattern of strong demand albeit with moderated uptake by the Treasury.

SP/VPO

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