Ghana Treasury bills · auction of 14 March 2022
Ghana T-bill auction, 14 March 2022: 364-day at 16.96%, unchanged
At the Treasury bill auction dated 14 March 2022, the Bank of Ghana cleared the 91-day bill at 13.25% (up 23 basis points), the 182-day bill at 13.55% (up 24 basis points) and the 364-day bill at 16.96% (unchanged). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 1.5bn and GHS 1.5bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 16.10% to 16.99%.
A year earlier the 364-day bill cleared at 16.76%, so the government is paying 20 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,696 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 11,696 after 12 months: GHS 1,696 in interest before any withholding tax, about GHS 141 a month.
That is the same as at the previous auction.
For shorter money: GHS 678 on the 182-day bill (6 months), GHS 331 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 | 13.254% | 13.027% | — | GHS 630m | GHS 630m |
| 182-day | 13.552% | 13.309% | — | GHS 808m | GHS 808m |
| 364-day | 16.956% | 16.957% | — | GHS 41m | GHS 41m |
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, 14 March 2022, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2022-03-14
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.