Ghana Treasury bills · auction of 27 May 2019
Ghana T-bill auction, 27 May 2019: 91-day at 14.86%, down 6 bps
At the Treasury bill auction dated 27 May 2019, the Bank of Ghana cleared the 91-day bill at 14.86% (down 6 basis points) and the 182-day bill at 15.38% (down 8 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 767m and GHS 767m was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 13.24% to 14.92%.
A year earlier the 91-day bill cleared at 13.34%, so the government is paying 152 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 769 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 10,769 after 6 months: GHS 769 in interest before any withholding tax, about GHS 128 a month.
That is GHS 4 less than the same money would have earned at the previous auction.
For shorter money: GHS 371 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 | 14.858% | 14.919% | — | GHS 523m | GHS 523m |
| 182-day | 15.383% | 15.467% | — | GHS 244m | GHS 244m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 27 May 2019, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-05-27
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