The Government mobilised a total of GH¢2.728 billion in the last treasury bills auction, falling short of its GHS4.24 billion target, a report by the Bank of Ghana has shown.
The auction, held on Friday, August 15, 2025, under Tender number 1968, is due for issue on Monday, August 18, 2025.
Investors tendered a total of GH¢3.009 billion across the 91-day, 182-day, and 364-day maturities.
The Government accepted only GH¢2.728 billion, amounting to 90.65 per cent of the total amount tendered, despite its GH¢4.242 billion target.
For the 91-day bill government accepted GH¢2.023 billion out of the total bid amount of GH¢2.059 billion tendered.
For the 182-day bill, it accepted GH¢537.69 million out of GH¢678.18 million in bids tendered.
The Government accepted GH¢167.66 million from the GH¢272.58 million in bids tendered for the 364-day bill.
Interest rates range and allotment
Interest rates tendered for the 91-day bill ranged from 9.2796% to 12.8000%.
The Government fully allotted bids with interest rates from 9.5000% to 10.7831% per annum and discount rates from 9.2796% to 10.5000% per annum.
The 182-day bill bids had interest rates that ranged from 0.8747% to 14.5000%.
The full allotment for this bill was at interest rates between 11.5000% and 12.8000% per annum, with discount rates from 10.8747% to 12.0301% per annum.
For the 364-day bill, tendered rates ranged from 10.7142% to 13.5000% per annum.
The government allotted bids with interest rates from 11.9999% to 13.3144% per annum and discount rates from 10.7142% to 11.7500% per annum.
At the end, weighted average of rates for the week, starting August 18, are: 91-day bill; 10.1374% interest rate and 9.8868% discount rate per annum, and 182-day bill; 12.2302% interest rate and 11.5255% discount rate per annum, and 364-day bill; 13.0865% interest rate and 11.5721% discount rate per annum.
The Government targeted to raise GH¢6.426 billion in the next auction, Tender 1969, the report said.
