Ghana Treasury bills · auction of 28 November 2022
Ghana T-bill auction, 28 November 2022: 364-day at 35.90%, up 82 bps
At the Treasury bill auction dated 28 November 2022, the Bank of Ghana cleared the 91-day bill at 35.54% (up 35 basis points), the 182-day bill at 36.38% (up 39 basis points) and the 364-day bill at 35.90% (up 82 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 2.4bn and GHS 2.4bn was accepted, 100% of what was bid.
At 35.90%, the 364-day rate is the highest in the 24 auctions of the past year.
A year earlier the 364-day bill cleared at 16.29%, so the government is paying 1961 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 3,590 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 13,590 after 12 months: GHS 3,590 in interest before any withholding tax, about GHS 299 a month.
That is GHS 82 more than the same money would have earned at the previous auction.
For shorter money: GHS 1,819 on the 182-day bill (6 months), GHS 889 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 | 35.543% | 35.197% | — | GHS 2.07bn | GHS 2.07bn |
| 182-day | 36.377% | 35.989% | — | GHS 224m | GHS 224m |
| 364-day | 35.896% | 35.077% | — | GHS 102m | GHS 102m |
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, 28 November 2022, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2022-11-28
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.