Ghana Treasury bills · auction of 4 November 2024
Ghana T-bill auction, 4 November 2024: 364-day at 29.04%, up 7 bps
At the Treasury bill auction dated 4 November 2024, the Bank of Ghana cleared the 91-day bill at 26.56% (up 37 basis points), the 182-day bill at 27.58% (up 29 basis points) and the 364-day bill at 29.04% (up 7 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 33.46%.
A year earlier the 364-day bill cleared at 33.42%, so the government is paying 438 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 2,904 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 12,904 after 12 months: GHS 2,904 in interest before any withholding tax, about GHS 242 a month.
That is GHS 7 more than the same money would have earned at the previous auction.
For shorter money: GHS 1,379 on the 182-day bill (6 months), GHS 664 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 | 26.564% | 26.190% | — | GHS 3.33bn | GHS 3.33bn |
| 182-day | 27.585% | 27.291% | — | GHS 550m | GHS 550m |
| 364-day | 29.038% | 28.971% | — | GHS 201m | GHS 201m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 4 November 2024, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2024-11-04
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