Ghana Treasury bills · auction of 15 April 2024
Ghana T-bill auction, 15 April 2024: 364-day at 28.75%, down 9 bps
At the Treasury bill auction dated 15 April 2024, the Bank of Ghana cleared the 91-day bill at 25.74% (up 1 basis point), the 182-day bill at 28.15% (down 8 basis points) and the 364-day bill at 28.75% (down 9 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 4.2bn and GHS 4.2bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 27.26% to 33.70%.
A year earlier the 364-day bill cleared at 26.96%, so the government is paying 179 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 2,875 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 12,875 after 12 months: GHS 2,875 in interest before any withholding tax, about GHS 240 a month.
That is GHS 9 less than the same money would have earned at the previous auction.
For shorter money: GHS 1,407 on the 182-day bill (6 months), GHS 643 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 | 25.739% | 25.732% | — | GHS 3.61bn | GHS 3.61bn |
| 182-day | 28.148% | 28.227% | — | GHS 505m | GHS 505m |
| 364-day | 28.750% | 28.838% | — | GHS 118m | GHS 118m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 15 April 2024, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2024-04-15
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