Ghana Treasury bills · auction of 11 April 2022
Ghana T-bill auction, 11 April 2022: 364-day at 18.27%, up 132 bps
At the Treasury bill auction dated 11 April 2022, the Bank of Ghana cleared the 91-day bill at 15.74% (up 90 basis points), the 182-day bill at 15.93% (up 47 basis points) and the 364-day bill at 18.27% (up 132 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 758m and GHS 748m was accepted, 99% of what was bid.
At 18.27%, the 364-day rate is the highest in the 18 auctions of the past year.
A year earlier the 364-day bill cleared at 16.57%, so the government is paying 170 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,827 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 11,827 after 12 months: GHS 1,827 in interest before any withholding tax, about GHS 152 a month.
That is GHS 132 more than the same money would have earned at the previous auction.
For shorter money: GHS 796 on the 182-day bill (6 months), GHS 394 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 | 15.741% | 14.845% | — | GHS 588m | GHS 578m |
| 182-day | 15.926% | 15.460% | — | GHS 91m | GHS 91m |
| 364-day | 18.274% | 16.956% | — | GHS 78m | GHS 78m |
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 April 2022, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2022-04-11
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.