Ghana Treasury bills · auction of 22 April 2019
Ghana T-bill auction, 22 April 2019: 91-day at 14.66%, down 4 bps
At the Treasury bill auction dated 22 April 2019, the Bank of Ghana cleared the 91-day bill at 14.66% (down 4 basis points) and the 182-day bill at 15.07% (down 3 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 709m and GHS 591m was accepted, 83% 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 13.36%, so the government is paying 130 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 753 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 10,753 after 6 months: GHS 753 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 367 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 | 14.663% | 14.708% | — | GHS 621m | GHS 506m |
| 182-day | 15.068% | 15.101% | — | GHS 88m | GHS 85m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 22 April 2019, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-04-22
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