Accra: In its Treasury Bill auction on February 27, 2026, the government recorded GHS14.82 billion in bids against a target of GHS5.81 billion, reflecting robust demand for short-term debt instruments. Data from the Bank of Ghana (BoG) shows that the treasury accepted GHS8.8 billion out of the GHS14.82 billion submitted, rejecting approximately GHS6.01 billion.
According to Ghana Web, the strong subscription levels came amid declining yields across all tenors, underscoring sustained investor appetite for government securities. The 91-day bill attracted GHS6.83 billion in bids, of which GHS3.74 billion was accepted. The 182-day bill recorded GHS2.83 billion in bids, with GHS1.52 billion accepted. The 364-day bill received GHS3.54 billion in bids, with GHS5.17 billion accepted.
For its next auction, the government has set a target of GHS5.68 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.