Finance

T-bills undersubscribed by GH¢1.29 billion; interest rates at 29.9%

Ogyem SolomonDecember 10, 2024

1 minute read

The government has recorded an undersubscription in its latest treasury bills auction.

This is the second time this month that the government has fallen short after setting an ambitious target of GH¢6.419 billion.

The government received GH¢5.199.67 billion in the auction on December 6, 2024.

According to the results released on December 9, 2024, GH¢3.007.61 billion was allocated for the 91-day bill.

However, the government accepted GH¢1.832.51 billion for the 182-day bill and GH¢359.55 million for the 365-day bill.

Last week, the government raised a total of GH¢3.835.93 billion.

Interest rates were established at 27.60% for the 91-day bill, 28.31% for the 182-day bill, and 29.90% for the 365-day bill.

Treasury bills have become the government’s primary source of borrowing since it no longer has access to the international capital market.

Meanwhile, the government aims to borrow GH¢6.848 billion in this week’s auction.

Source: www.ghanaweb.com

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Ogyem SolomonDecember 10, 2024

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.