Ghana Treasury bills · auction of 14 May 2018
Ghana T-bill auction, 14 May 2018: 91-day at 13.38%, up 5 bps
At the Treasury bill auction dated 14 May 2018, the Bank of Ghana cleared the 91-day bill at 13.38% (up 5 basis points) and the 182-day bill at 13.86% (up 2 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 524m and GHS 524m was accepted, 100% of what was bid.
At 13.38%, the 91-day rate is the highest in the 19 auctions of the past year.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 693 in 6 months on the 182-day bill
Put GHS 10,000 into the 182-day bill at this auction and you get back GHS 10,693 after 6 months: GHS 693 in interest before any withholding tax, about GHS 115 a month.
That is GHS 1 more than the same money would have earned at the previous auction.
For shorter money: GHS 334 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Ghana’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 13.378% | 13.329% | — | GHS 446m | GHS 446m |
| 182-day | 13.859% | 13.836% | — | GHS 78m | GHS 78m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 14 May 2018, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2018-05-14
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