Ghana Treasury bills · auction of 13 May 2024
Ghana T-bill auction, 13 May 2024: 364-day at 28.00%, unchanged
At the Treasury bill auction dated 13 May 2024, the Bank of Ghana cleared the 91-day bill at 25.20% (down 25 basis points), the 182-day bill at 27.00% (down 40 basis points) and the 364-day bill at 28.00% (unchanged). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 4.9bn and GHS 4.9bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 28.00% to 33.70%.
A year earlier the 364-day bill cleared at 27.36%, so the government is paying 64 basis points more than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 2,800 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 12,800 after 12 months: GHS 2,800 in interest before any withholding tax, about GHS 233 a month.
That is the same as at the previous auction.
For shorter money: GHS 1,350 on the 182-day bill (6 months), GHS 630 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 | 25.200% | 25.448% | — | GHS 3.83bn | GHS 3.83bn |
| 182-day | 27.000% | 27.397% | — | GHS 822m | GHS 822m |
| 364-day | 28.000% | 28.000% | — | GHS 273m | GHS 273m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 13 May 2024, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2024-05-13
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