Ghana Treasury Bill Yields Rise Slightly as Investor Demand Remains Strong

Interest rates on Ghana’s Treasury bills recorded modest increases across all tenors in the latest auction conducted by the Bank of Ghana, reflecting a slight upward movement in short-term government borrowing costs amid sustained investor interest.

According to the central bank, yields on the 91-day, 182-day and 364-day Treasury bills all edged higher in Auction 2014 compared with the previous auction.

The yield on the 91-day Treasury bill rose to 5.87 per cent, up from 5.73 per cent in Auction 2013. The 182-day instrument also increased to 7.79 per cent, compared with 7.69 per cent previously.

Meanwhile, the 364-day Treasury bill remained the highest-yielding security, with its rate climbing to 12.93 per centfrom 12.82 per cent in the preceding auction.

The central bank noted that the auction attracted bids worth billions of Ghanaian cedis across the three Treasury bill tenors, highlighting continued strong investor appetite for government securities despite the marginal increase in yields.

The latest auction underscores sustained confidence in Ghana’s short-term debt market, with Treasury bills continuing to serve as a key investment option for institutional and retail investors seeking relatively secure returns.