The government is seeking to raise GH¢4.24 billion from its sale of 91-day, 182-day, and 364-day Treasury bills in today’s auction, August 15, 2025.

This follows an undersubscription in the previous auction on August 8, when bids fell short of the GH¢8.588 billion target by GH¢1.90 billion. According to the Bank of Ghana, total bids amounted to GH¢6.890 billion, with GH¢6.687 billion accepted. It marked the first undersubscription in four weeks despite a steady decline in interest rates.

Breakdown of the August 8 auction results shows:


  • 91-day bill: GH¢5.02 billion tendered, GH¢4.99 billion accepted.


  • 182-day bill: GH¢1.37 billion tendered, GH¢1.23 billion accepted.


  • 364-day bill: GH¢490 million tendered, GH¢452 million accepted.

Yields continued their downward trend, with the 91-day bill rate falling by 9 basis points to 10.20%, the 182-day dropping by 10 basis points to 12.25%, and the 364-day declining by 14 basis points to 13.10%.

Today’s auction will test investor appetite amid easing yields and comes as the government maintains an active short-term borrowing programme to meet its financing needs.