Ghana Treasury bills · auction of 25 March 2019
Ghana T-bill auction, 25 March 2019: 91-day at 14.72%, unchanged
At the Treasury bill auction dated 25 March 2019, the Bank of Ghana cleared the 91-day bill at 14.72% (unchanged) and the 182-day bill at 15.16% (up 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 572m and GHS 570m was accepted, 100% of what was bid.
At 14.72%, the 91-day rate is the highest in the 52 auctions of the past year.
A year earlier the 91-day bill cleared at 13.34%, so the government is paying 137 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 758 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 10,758 after 6 months: GHS 758 in interest before any withholding tax, about GHS 126 a month.
That is the same as at the previous auction.
For shorter money: 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 | 14.718% | 14.715% | — | GHS 507m | GHS 507m |
| 182-day | 15.159% | 15.150% | — | GHS 65m | GHS 62m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 25 March 2019, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-03-25
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