BoG sets GH¢7.56bn target for next Treasury Bill auction

The Government of Ghana is seeking to raise GH¢7.56 billion at its next Treasury bill auction, according to the Bank of Ghana’s latest auction results and borrowing targets.

The amount has been set as the target for Tender 1989, which will cover 91-day, 182-day and 364-day Treasury bills, the Central Bank disclosed in a notice to banks and the general public published on the Bank’s Website on January 2, 2026.

The disclosure follows the conclusion of Tender 1988 where the government targeted GH¢3.99 billion through the issuance of short-term securities scheduled for settlement on January 5, 2026. At that auction, total bids submitted by investors amounted to GH¢4.78 billion, exceeding the target.

Out of the total bids tendered, the government accepted GH¢4.21 billion, surpassing its borrowing target. The accepted amount comprised GH¢1.94 billion from the 91-day Treasury bill, GH¢1.01 billion from the 182-day bill, and GH¢1.26 billion from the 364-day bill.

The 91-day bill recorded bids worth GH¢1.95 billion, almost all of which were accepted. Bids for the 182-day bill totalled GH¢1.23 billion, with GH¢1.01 billion accepted.

Meanwhile, the 364-day bill attracted GH¢1.61 billion in bids, of which GH¢1.26 billion was taken up by the government.

The auction results further show that bids were allotted within specified interest-rate ranges. Accepted bids for the 91-day bill fell within discount rates of 10.3264 to 10.9422 per cent.

The 182-day bill was allotted at rates ranging from 11.3208 to 11.9417 per cent, while the 364-day bill was allotted at rates between 10.4000 and 11.5044 per cent.

For the week of 5th to 9th January 2026, the weighted average interest rates stood at 11.12 per cent for the 91-day bill, 12.55 per cent for the 182-day bill, and 12.93 per cent for the 364-day bill.

The Bank of Ghana also summarised the outcome of the previous auction, Tender 1987, held on 24 December 2025, where GH¢3.86 billion was sold out of GH¢3.92 billion tendered for Treasury bills.

The central bank reiterated that participation in Government of Ghana Securities wholesale auctions is restricted to primary dealers, while members of the public may buy or sell the securities on the secondary market through the Ghana Fixed Income Market via licensed depository participants.

 

 

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