Ghana Treasury bills · auction of 28 December 2020
Ghana T-bill auction, 28 December 2020: 91-day at 14.09%, unchanged
At the Treasury bill auction dated 28 December 2020, the Bank of Ghana cleared the 91-day bill at 14.09% (unchanged) and the 182-day bill at 14.12% (down 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 902m and GHS 902m was accepted, 100% 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 14.70%, so the government is paying 61 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 706 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 10,706 after 6 months: GHS 706 in interest before any withholding tax, about GHS 118 a month.
That is the same as at the previous auction.
For shorter money: GHS 352 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 | 14.089% | 14.087% | — | GHS 805m | GHS 805m |
| 182-day | 14.120% | 14.128% | — | GHS 96m | GHS 96m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 28 December 2020, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2020-12-28
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