Ghana Treasury bills · auction of 3 December 2018
Ghana T-bill auction, 3 December 2018: 91-day at 14.48%, up 9 bps
At the Treasury bill auction dated 3 December 2018, the Bank of Ghana cleared the 91-day bill at 14.48% (up 9 basis points) and the 182-day bill at 14.82% (up 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 884m and GHS 764m was accepted, 86% of what was bid.
At 14.48%, the 91-day rate is the highest in the 48 auctions of the past year.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 741 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 10,741 after 6 months: GHS 741 in interest before any withholding tax, about GHS 124 a month.
That is GHS 1 more than the same money would have earned at the previous auction.
For shorter money: GHS 362 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 | 14.480% | 14.392% | — | GHS 808m | GHS 688m |
| 182-day | 14.823% | 14.810% | — | GHS 76m | GHS 76m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 3 December 2018, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2018-12-03
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