Ghana Treasury bills · auction of 2 September 2024
Ghana T-bill auction, 2 September 2024: 364-day at 27.91%, up 10 bps
At the Treasury bill auction dated 2 September 2024, the Bank of Ghana cleared the 91-day bill at 24.89% (up 10 basis points), the 182-day bill at 26.79% (up 10 basis points) and the 364-day bill at 27.91% (up 10 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 4.1bn and GHS 4.1bn 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 31.24%, so the government is paying 333 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 2,791 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 12,791 after 12 months: GHS 2,791 in interest before any withholding tax, about GHS 233 a month.
That is GHS 10 more than the same money would have earned at the previous auction.
For shorter money: GHS 1,339 on the 182-day bill (6 months), GHS 622 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 | 24.890% | 24.790% | — | GHS 2.53bn | GHS 2.53bn |
| 182-day | 26.789% | 26.685% | — | GHS 1.36bn | GHS 1.36bn |
| 364-day | 27.910% | 27.814% | — | GHS 205m | GHS 205m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 2 September 2024, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2024-09-02
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