Treasury Auction: Government Raises GH¢4.41bn In T-Bills, Over-Subscribed By 53%

The Government of Ghana, operating through the Bank of Ghana treasury auction, raised GH¢4.41 billion in short-term Treasury bills, surpassing its auction target of GH¢2.88 billion by 53 percent. According to official financial market data published by CitiNewsroom on Monday, October 12, 2026, the strong market outcome was driven by robust investor demand for short-term government securities alongside declining yields across all three maturities.  

Auction results released by the central bank indicate that total investor bids tendered reached GH¢5.06 billion, out of which the government accepted GH¢4.41 billion to satisfy domestic debt financing requirements. The 91-day short-term bill attracted the largest share of investor capital, securing almost GH¢3 billion in subscriptions, while the 182-day and 364-day instruments accounted for the remaining market intake.  

Yields on the Treasury bills continued a downward trajectory across all tenors, reducing the government’s borrowing costs on domestic debt instruments. Financial analysts at the Ministry of Finance noted that the substantial over-subscription provides essential liquidity for near-term debt refinancing and supports public expenditure management while maintaining market stability.  

Economic experts and money market strategists observe that sustained investor participation in government paper reflects growing market confidence in domestic monetary policy stability and ongoing fiscal consolidation efforts.

Source: Bank of Ghana Treasury Auction Records / Ministry of Finance / CitiNewsroom Financial Desk  

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