Ghana’s surging yields expose fragile confidence beneath debt-recovery optimism

• Treasury bill demand surges as investors flee market uncertainty
• Ghana prepares landmark $1bn domestic cocoa financing shift

ACCRA, GHANA – Ghana’s money market is flashing mixed signals as soaring demand for treasury bills, rising yields, and plans for a landmark domestic cocoa bond reshape investor behaviour after the country’s debt crisis.

Two consecutive weeks of strong oversubscription at treasury bill auctions, combined with weakening secondary bond market activity, point to a financial market cautiously rebuilding confidence while remaining deeply risk-sensitive.