Ghana Treasury bills · auction of 1 July 2019
Ghana T-bill auction, 1 July 2019: 364-day at 17.92%, down 1 bps
At the Treasury bill auction dated 1 July 2019, the Bank of Ghana cleared the 91-day bill at 14.74% (down 3 basis points), the 182-day bill at 15.20% (down 3 basis points) and the 364-day bill at 17.92% (down 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 915m and GHS 891m was accepted, 97% 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 1,792 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 11,792 after 12 months: GHS 1,792 in interest before any withholding tax, about GHS 149 a month.
That is GHS 1 less than the same money would have earned at the previous auction.
For shorter money: GHS 760 on the 182-day bill (6 months), GHS 369 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 | 14.744% | 14.771% | — | GHS 365m | GHS 365m |
| 182-day | 15.200% | 15.226% | — | GHS 54m | GHS 52m |
| 364-day | 17.916% | 17.923% | — | GHS 496m | GHS 474m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 1 July 2019, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-07-01
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