Finance

T-bills undersubscribed by 37% despite 34% interest rate

Ogyem SolomonOctober 31, 2022

1 minute read

The results for the weekly auction of government Treasury Bills held on October 2022, showed that despite the increasing rate on the securities, it was undersubscribed.

The interest shot up to as high as 34% for the 182-day T-bills, 32% for the 91-day bill, and 33% for the 364-day T-bills.

Out of a target of GH¢1,124 million, the Central Bank accepted GH¢701 million bids.

This represents a 37% fall from the expected subscription.

The government was seeking to meet the target in the bid to refinance maturities. The under-subscription will mean that government has to raise revenue to be able to pay maturities in the coming months.

However, with the increase in interest rates on the market, the rate is still lower than the inflation rate of 37.2% according to the Ghana Statistical Service.

Although unclear what may account for the under-subscription of the T-bills it is obvious that investors may be losing confidence in the financial instrument as there appears to be some instability in the market.

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Source: www.ghanaweb.com

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Ogyem SolomonOctober 31, 2022

1 minute read

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.