Ghana’s government plans to raise GH¢6.32 billion on May 2, 2025, through the sale of 91-day, 182-day, and 364-day treasury bills. The funds will go toward repaying GH¢6.09 billion in maturing bills.
Market analysts foresee slight drops in yields in the coming weeks. This trend reflects growing momentum for a potential bond market reopening, supported by ongoing financial planning. The move could ease domestic interest payment burdens.
Databank Research predicts June as the best time for reopening the bond market. The firm cited stabilizing inflation and alignment with the Finance Ministry’s two-year recovery strategy. It also expects strong investor demand in the short term due to improved confidence.
Databank believes selective debt acceptance could push yields down further. This would make longer-term bonds more appealing, especially to non-resident investors.
At the most recent auction, investors submitted bids totaling GH¢7.27 billion. The government accepted GH¢6.70 billion, exceeding the GH¢6.15 billion target.
Yields continued to decline. The 91-day bill dropped to 15.32%, the 182-day bill to 16.04%, and the 364-day bill to 18.37%. These declines marked week-on-week drops of 13, 14, and 25 basis points, respectively.
