Ghana Treasury bills · auction of 13 January 2025
Ghana T-bill auction, 13 January 2025: 364-day at 30.18%, up 2 bps
At the Treasury bill auction dated 13 January 2025, the Bank of Ghana cleared the 91-day bill at 28.34% (up 15 basis points), the 182-day bill at 28.96% (up 5 basis points) and the 364-day bill at 30.18% (up 2 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 8.1bn and GHS 8.1bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 27.79% to 32.00%.
A year earlier the 364-day bill cleared at 32.34%, so the government is paying 216 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 3,018 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 13,018 after 12 months: GHS 3,018 in interest before any withholding tax, about GHS 251 a month.
That is GHS 2 more than the same money would have earned at the previous auction.
For shorter money: GHS 1,448 on the 182-day bill (6 months), GHS 708 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 | 28.338% | 28.190% | — | GHS 5.51bn | GHS 5.51bn |
| 182-day | 28.964% | 28.917% | — | GHS 1.42bn | GHS 1.42bn |
| 364-day | 30.176% | 30.151% | — | GHS 1.15bn | GHS 1.15bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 13 January 2025, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2025-01-13
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