Ghana Treasury bills · auction of 19 August 2024
Ghana T-bill auction, 19 August 2024: 364-day at 27.85%, down 1 bps
At the Treasury bill auction dated 19 August 2024, the Bank of Ghana cleared the 91-day bill at 24.84% (up 2 basis points), the 182-day bill at 26.75% (down 2 basis points) and the 364-day bill at 27.85% (down 1 basis point). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 4.6bn and GHS 4.6bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 27.79% to 33.70%.
A year earlier the 364-day bill cleared at 30.70%, so the government is paying 285 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 2,785 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 12,785 after 12 months: GHS 2,785 in interest before any withholding tax, about GHS 232 a month.
That is GHS 1 less than the same money would have earned at the previous auction.
For shorter money: GHS 1,337 on the 182-day bill (6 months), GHS 621 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 | 24.843% | 24.825% | — | GHS 3.61bn | GHS 3.61bn |
| 182-day | 26.747% | 26.764% | — | GHS 734m | GHS 734m |
| 364-day | 27.851% | 27.858% | — | GHS 285m | GHS 285m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 19 August 2024, compiled from the Bank of Ghana. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2024-08-19
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