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Can Ghana keep borrowing cheap? Investor demand softens

A vibrant market scene in Accra, Ghana. Photo by Zeal Creative Studios @Pexels
A vibrant market scene in Accra, Ghana. Photo by Zeal Creative Studios @Pexels
  • Ghana rejects GHS874mn in Treasury bids despite missing borrowing target
  • Falling yields ease borrowing costs, but analysts warn of weakening demand

 

ACCRA, GHANA – Ghana rejected nearly GHS874mn in Treasury bill bids despite missing its borrowing target, as falling yields begin testing investor appetite for government debt.

The Treasury accepted GHS3.39bn ($291mn) of the GHS4.27bn ($366mn) offered by investors at its October 23 auction, falling GHS405.34mn ($34.8mn) short of its GHS3.798bn target, according to Bank of Ghana results.

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