Ghana Treasury bills · auction of 13 June 2022
Ghana T-bill auction, 13 June 2022: 364-day at 26.86%, up 240 bps
At the Treasury bill auction dated 13 June 2022, the Bank of Ghana cleared the 91-day bill at 23.70% (up 112 basis points), the 182-day bill at 25.41% (up 100 basis points) and the 364-day bill at 26.86% (up 240 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 1.2bn and GHS 1.1bn was accepted, 92% of what was bid.
At 26.86%, the 364-day rate is the highest in the 20 auctions of the past year.
A year earlier the 364-day bill cleared at 16.49%, so the government is paying 1038 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 2,686 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 12,686 after 12 months: GHS 2,686 in interest before any withholding tax, about GHS 224 a month.
That is GHS 240 more than the same money would have earned at the previous auction.
For shorter money: GHS 1,270 on the 182-day bill (6 months), GHS 592 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 | 23.699% | 22.574% | — | GHS 822m | GHS 760m |
| 182-day | 25.408% | 24.410% | — | GHS 222m | GHS 201m |
| 364-day | 26.863% | 24.464% | — | GHS 156m | GHS 142m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 13 June 2022, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2022-06-13
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