Ghana Treasury bills · auction of 3 February 2020
Ghana T-bill auction, 3 February 2020: 364-day at 17.81%, down 7 bps
At the Treasury bill auction dated 3 February 2020, the Bank of Ghana cleared the 91-day bill at 14.69% (unchanged), the 182-day bill at 15.14% (unchanged) and the 364-day bill at 17.81% (down 7 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 960m and GHS 960m was accepted, 100% of what was bid.
At 17.81%, the 364-day rate is the lowest in the 26 auctions of the past year.
A year earlier the 364-day bill cleared at 18.21%, so the government is paying 40 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,781 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 11,781 after 12 months: GHS 1,781 in interest before any withholding tax, about GHS 148 a month.
That is GHS 7 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 | 14.695% | 14.690% | — | GHS 466m | GHS 466m |
| 182-day | 15.144% | 15.148% | — | GHS 112m | GHS 112m |
| 364-day | 17.810% | 17.881% | — | GHS 383m | GHS 383m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Bank of Ghana” and a link to this page.
Afronomics (2026). Ghana Treasury bill auction, 3 February 2020, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2020-02-03
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.