Ghana Treasury bills · auction of 12 November 2018
Ghana T-bill auction, 12 November 2018: 91-day at 14.41%, up 28 bps
At the Treasury bill auction dated 12 November 2018, the Bank of Ghana cleared the 91-day bill at 14.41% (up 28 basis points) and the 182-day bill at 14.64% (up 14 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 512m and GHS 512m was accepted, 100% of what was bid.
At 14.41%, the 91-day rate is the highest in the 45 auctions of the past year.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 732 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 10,732 after 6 months: GHS 732 in interest before any withholding tax, about GHS 122 a month.
That is GHS 7 more than the same money would have earned at the previous auction.
For shorter money: GHS 360 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 | 14.413% | 14.135% | — | GHS 424m | GHS 424m |
| 182-day | 14.643% | 14.498% | — | GHS 88m | GHS 88m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 12 November 2018, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2018-11-12
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