Ghana Treasury bills · auction of 18 November 2019
Ghana T-bill auction, 18 November 2019: 364-day at 17.91%, down 1 bps
At the Treasury bill auction dated 18 November 2019, the Bank of Ghana cleared the 91-day bill at 14.69% (unchanged), the 182-day bill at 15.14% (up 1 basis point) and the 364-day bill at 17.91% (down 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 652m and GHS 650m was accepted, 100% 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 1,791 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 11,791 after 12 months: GHS 1,791 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 757 on the 182-day bill (6 months), 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 | 14.688% | 14.688% | — | GHS 503m | GHS 503m |
| 182-day | 15.136% | 15.129% | — | GHS 76m | GHS 76m |
| 364-day | 17.909% | 17.920% | — | GHS 72m | GHS 70m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 18 November 2019, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2019-11-18
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