Ghana Treasury bills · auction of 6 October 2025
Ghana T-bill auction, 6 October 2025: 364-day at 12.87%, down 3 bps
At the Treasury bill auction dated 6 October 2025, the Bank of Ghana cleared the 91-day bill at 10.47% (down 3 basis points), the 182-day bill at 12.35% (down 4 basis points) and the 364-day bill at 12.87% (down 3 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 2.6bn and GHS 2.6bn was accepted, 99% of what was bid.
At 12.87%, the 364-day rate is the lowest in the 48 auctions of the past year.
A year earlier the 364-day bill cleared at 28.68%, so the government is paying 1581 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,287 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 11,287 after 12 months: GHS 1,287 in interest before any withholding tax, about GHS 107 a month.
That is GHS 3 less than the same money would have earned at the previous auction.
For shorter money: GHS 618 on the 182-day bill (6 months), GHS 262 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 | 10.474% | 10.505% | — | GHS 2.03bn | GHS 2.02bn |
| 182-day | 12.352% | 12.392% | — | GHS 394m | GHS 389m |
| 364-day | 12.871% | 12.899% | — | GHS 171m | GHS 166m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 6 October 2025, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2025-10-06
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