Ghana Treasury bills · auction of 6 July 2020
Ghana T-bill auction, 6 July 2020: 91-day at 13.97%, down 5 bps
At the Treasury bill auction dated 6 July 2020, the Bank of Ghana cleared the 91-day bill at 13.97% (down 5 basis points) and the 182-day bill at 14.09% (up 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 546m and GHS 534m was accepted, 98% of what was bid.
Over the past year the 91-day rate has ranged from 13.86% to 14.76%.
A year earlier the 91-day bill cleared at 14.74%, so the government is paying 77 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 704 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 10,704 after 6 months: GHS 704 in interest before any withholding tax, about GHS 117 a month.
That is GHS 1 more than the same money would have earned at the previous auction.
For shorter money: 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 | 13.973% | 14.020% | — | GHS 438m | GHS 434m |
| 182-day | 14.088% | 14.074% | — | GHS 108m | GHS 100m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 6 July 2020, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2020-07-06
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