Ghana Treasury bills · auction of 2 June 2025
Ghana T-bill auction, 2 June 2025: 364-day at 15.91%, down 9 bps
At the Treasury bill auction dated 2 June 2025, the Bank of Ghana cleared the 91-day bill at 14.79% (down 13 basis points), the 182-day bill at 15.49% (down 7 basis points) and the 364-day bill at 15.91% (down 9 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 3.5bn and GHS 3.5bn was accepted, 100% of what was bid.
At 15.91%, the 364-day rate is the lowest in the 49 auctions of the past year.
A year earlier the 364-day bill cleared at 27.95%, so the government is paying 1204 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,591 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 11,591 after 12 months: GHS 1,591 in interest before any withholding tax, about GHS 133 a month.
That is GHS 9 less than the same money would have earned at the previous auction.
For shorter money: GHS 774 on the 182-day bill (6 months), GHS 370 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 | 14.795% | 14.929% | — | GHS 2.70bn | GHS 2.70bn |
| 182-day | 15.486% | 15.552% | — | GHS 554m | GHS 554m |
| 364-day | 15.913% | 16.001% | — | GHS 286m | GHS 286m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 2 June 2025, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2025-06-02
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