Ghana Treasury bills · auction of 8 April 2019
Ghana T-bill auction, 8 April 2019: 91-day at 14.71%, down 2 bps
At the Treasury bill auction dated 8 April 2019, the Bank of Ghana cleared the 91-day bill at 14.71% (down 2 basis points) and the 182-day bill at 15.12% (down 5 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 1.0bn and GHS 971m was accepted, 93% of what was bid.
Over the past year the 91-day rate has ranged from 13.24% to 14.73%.
A year earlier the 91-day bill cleared at 13.31%, so the government is paying 140 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 756 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 10,756 after 6 months: GHS 756 in interest before any withholding tax, about GHS 126 a month.
That is GHS 2 less than the same money would have earned 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 | 14.710% | 14.727% | — | GHS 976m | GHS 907m |
| 182-day | 15.119% | 15.165% | — | GHS 63m | GHS 63m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 8 April 2019, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-04-08
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