Ghana Treasury bills · auction of 4 March 2019
Ghana T-bill auction, 4 March 2019: 364-day at 18.03%, down 13 bps
At the Treasury bill auction dated 4 March 2019, the Bank of Ghana cleared the 91-day bill at 14.71% (unchanged), the 182-day bill at 15.13% (unchanged) and the 364-day bill at 18.03% (down 13 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 1.0bn and GHS 960m was accepted, 95% 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 1,803 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 11,803 after 12 months: GHS 1,803 in interest before any withholding tax, about GHS 150 a month.
That is GHS 13 less than the same money would have earned at the previous auction.
For shorter money: GHS 757 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% | 14.708% | — | GHS 568m | GHS 568m |
| 182-day | 15.132% | 15.132% | — | GHS 111m | GHS 111m |
| 364-day | 18.029% | 18.156% | — | GHS 335m | GHS 280m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 4 March 2019, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-03-04
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