T-bills auction: Gov’t to raise ¢3.21bn this week
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The government will raise about ¢3.21 billion in Treasury bills this Friday, March 24, 2023.
This will be done via the 91-day, 182-day and 364-day bills.
The amount raised will partly be used to refinance ¢1.88 billion worth of maturing T-bills.
Despite the large offer size, analysts believe the prevailing liquidity conditions will enable the government to reach its target.
Additionally, yields will continue to fall as investor demand remains firm.
The government raised ¢3.88bn in last week’s T-bill auction. The uptake exceeded the auction target by 39.79%.
Yields on the 91-day and 182-day retreated to 18.53% (-147 basis points week-on-week) and 21.27% (-158 basis points week-on-week).
A chunk of the bids for the T-bills came from the 91-day T-bill as ¢2.90 billion was accepted.
For the 182-day bill, the bids submitted were estimated at ¢983.7 million. But ¢972.4 million was accepted.
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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