Ghana Treasury bills · auction of 19 February 2024
Ghana T-bill auction, 19 February 2024: 364-day at 30.90%, down 10 bps
At the Treasury bill auction dated 19 February 2024, the Bank of Ghana cleared the 91-day bill at 27.89% (down 10 basis points), the 182-day bill at 30.39% (down 4 basis points) and the 364-day bill at 30.90% (down 10 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 5.7bn and GHS 5.7bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 25.66% to 34.21%.
A year earlier the 364-day bill cleared at 35.62%, so the government is paying 473 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 3,090 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 13,090 after 12 months: GHS 3,090 in interest before any withholding tax, about GHS 257 a month.
That is GHS 10 less than the same money would have earned at the previous auction.
For shorter money: GHS 1,520 on the 182-day bill (6 months), GHS 697 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 | 27.893% | 27.997% | — | GHS 2.43bn | GHS 2.43bn |
| 182-day | 30.395% | 30.438% | — | GHS 1.28bn | GHS 1.28bn |
| 364-day | 30.899% | 31.000% | — | GHS 1.96bn | GHS 1.96bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 19 February 2024, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2024-02-19
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