Ghana Treasury bills · auction of 29 August 2022
Ghana T-bill auction, 29 August 2022: 364-day at 29.52%, up 70 bps
At the Treasury bill auction dated 29 August 2022, the Bank of Ghana cleared the 91-day bill at 28.61% (up 89 basis points), the 182-day bill at 29.94% (up 65 basis points) and the 364-day bill at 29.52% (up 70 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 1.8bn and GHS 1.8bn was accepted, 100% of what was bid.
At 29.52%, the 364-day rate is the highest in the 20 auctions of the past year.
A year earlier the 364-day bill cleared at 16.11%, so the government is paying 1341 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 2,952 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 12,952 after 12 months: GHS 2,952 in interest before any withholding tax, about GHS 246 a month.
That is GHS 70 more than the same money would have earned at the previous auction.
For shorter money: GHS 1,497 on the 182-day bill (6 months), GHS 715 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 | 28.614% | 27.721% | — | GHS 1.39bn | GHS 1.39bn |
| 182-day | 29.942% | 29.291% | — | GHS 379m | GHS 379m |
| 364-day | 29.523% | 28.825% | — | GHS 61m | GHS 56m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 29 August 2022, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2022-08-29
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