Ghana Treasury bills · auction of 16 September 2019
Ghana T-bill auction, 16 September 2019: 91-day at 14.70%, up 2 bps
At the Treasury bill auction dated 16 September 2019, the Bank of Ghana cleared the 91-day bill at 14.70% (up 2 basis points) and the 182-day bill at 15.14% (up 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 716m and GHS 716m was accepted, 100% of what was bid.
Over the past year the 91-day rate has ranged from 13.39% to 14.92%.
A year earlier the 91-day bill cleared at 13.36%, so the government is paying 133 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 757 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 10,757 after 6 months: GHS 757 in interest before any withholding tax, about GHS 126 a month.
That is GHS 1 more 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 | 14.697% | 14.679% | — | GHS 631m | GHS 631m |
| 182-day | 15.136% | 15.123% | — | GHS 86m | GHS 86m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 16 September 2019, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-09-16
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