Ghana Treasury bills · auction of 11 February 2019
Ghana T-bill auction, 11 February 2019: 364-day at 18.16%, down 12 bps
At the Treasury bill auction dated 11 February 2019, the Bank of Ghana cleared the 91-day bill at 14.71% (up 1 basis point), the 182-day bill at 15.15% (up 1 basis point) and the 364-day bill at 18.16% (down 12 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 711m and GHS 606m was accepted, 85% of what was bid.
Over the past year the 364-day rate has ranged from 16.57% to 18.28%.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,816 in 12 months on the 364-day bill
Put GHS 10,000 into the 364-day bill at this auction and you get back GHS 11,816 after 12 months: GHS 1,816 in interest before any withholding tax, about GHS 151 a month.
That is GHS 12 less than the same money would have earned at the previous auction.
For shorter money: GHS 758 on the 182-day bill (6 months), GHS 368 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 | 14.709% | 14.696% | — | GHS 509m | GHS 509m |
| 182-day | 15.154% | 15.145% | — | GHS 73m | GHS 73m |
| 364-day | 18.156% | 18.276% | — | GHS 130m | GHS 25m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 11 February 2019, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-02-11
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