Ghana Treasury bills · auction of 11 May 2020
Ghana T-bill auction, 11 May 2020: 364-day at 16.75%, up 1 bps
At the Treasury bill auction dated 11 May 2020, the Bank of Ghana cleared the 91-day bill at 13.95% (up 3 basis points), the 182-day bill at 14.02% (up 1 basis point) and the 364-day bill at 16.75% (up 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 850m and GHS 834m was accepted, 98% of what was bid.
Over the past year the 364-day rate has ranged from 16.74% to 18.01%.
A year earlier the 364-day bill cleared at 18.01%, so the government is paying 126 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,675 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 11,675 after 12 months: GHS 1,675 in interest before any withholding tax, about GHS 140 a month.
That is GHS 1 more than the same money would have earned at the previous auction.
For shorter money: GHS 701 on the 182-day bill (6 months), GHS 349 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 | 13.950% | 13.924% | — | GHS 699m | GHS 699m |
| 182-day | 14.019% | 14.007% | — | GHS 117m | GHS 117m |
| 364-day | 16.751% | 16.739% | — | GHS 34m | GHS 18m |
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, 11 May 2020, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2020-05-11
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.