Government Records 246% Oversubscription in Latest Treasury Bill Auction

The Government of Ghana has chalked up its sixth straight Treasury bill oversubscription, recording an impressive 246 per cent turnout at the latest auction held on February 6, 2026.

The auction attracted total bids worth GHC17.242 billion, far exceeding the government’s target of GHC4.976 billion, highlighting strong investor appetite and ample liquidity in the domestic financial market.

Despite the heavy demand, government exercised restraint, accepting GHC5.826 billion across the three available tenors in line with its fiscal consolidation objectives.

The 364-day Treasury bill drew the strongest interest, with bids reaching GHC6.944 billion. However, government accepted slightly over GHC2 billion, issuing the instrument at a yield of 12.06 per cent.

Shorter-term instruments also recorded robust participation. The 91-day bill attracted GHC6.572 billion in bids, with GHC2.521 billion accepted at a yield of 9.97 per cent. Meanwhile, the 182-day bill received offers amounting to GHC3.724 billion, of which GHC1.301 billion was taken at an interest rate of 11.82 per cent.

The strong turnout reflects growing investor confidence in government securities, which continue to be viewed as a safe investment option amid Ghana’s gradual economic recovery. The level of oversubscription also points to significant excess liquidity within the financial system.

Looking ahead, the government plans to raise GHC6.415 billion in its next Treasury bill auction scheduled for Friday, February 13, 2026.