Ghana Treasury bills · auction of 17 February 2020
Ghana T-bill auction, 17 February 2020: 364-day at 17.81%, unchanged
At the Treasury bill auction dated 17 February 2020, the Bank of Ghana cleared the 91-day bill at 14.70% (unchanged), the 182-day bill at 15.18% (unchanged) and the 364-day bill at 17.81% (unchanged). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 589m and GHS 581m was accepted, 99% 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 18.16%, so the government is paying 35 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 the same as at the previous auction.
For shorter money: GHS 759 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 | 14.697% | 14.701% | — | GHS 477m | GHS 477m |
| 182-day | 15.183% | 15.184% | — | GHS 94m | GHS 94m |
| 364-day | 17.809% | 17.810% | — | GHS 18m | GHS 11m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 17 February 2020, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2020-02-17
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