Ghana Treasury bills · auction of 3 February 2025
Ghana T-bill auction, 3 February 2025: 364-day at 30.37%, down 4 bps
At the Treasury bill auction dated 3 February 2025, the Bank of Ghana cleared the 91-day bill at 28.41% (down 10 basis points), the 182-day bill at 28.90% (down 17 basis points) and the 364-day bill at 30.37% (down 4 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 9.4bn and GHS 8.0bn was accepted, 85% of what was bid.
Over the past year the 364-day rate has ranged from 27.79% to 31.00%.
A year earlier the 364-day bill cleared at 31.80%, so the government is paying 143 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 3,037 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 13,037 after 12 months: GHS 3,037 in interest before any withholding tax, about GHS 253 a month.
That is GHS 4 less than the same money would have earned at the previous auction.
For shorter money: GHS 1,445 on the 182-day bill (6 months), GHS 710 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 | 28.413% | 28.515% | — | GHS 5.59bn | GHS 5.22bn |
| 182-day | 28.898% | 29.066% | — | GHS 1.52bn | GHS 531m |
| 364-day | 30.370% | 30.408% | — | GHS 2.26bn | GHS 2.24bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Bank of Ghana” and a link to this page.
Afronomics (2026). Ghana Treasury bill auction, 3 February 2025, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2025-02-03
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.