Ghana Treasury bills · auction of 16 January 2026
Ghana T-bill auction, 16 January 2026: 364-day at 12.98%, up 8 bps
At the Treasury bill auction dated 16 January 2026, the Bank of Ghana cleared the 91-day bill at 11.19% (up 2 basis points), the 182-day bill at 12.65% (up 3 basis points) and the 364-day bill at 12.98% (up 8 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 10.1bn and GHS 10.1bn was accepted, 100% of what was bid.
Over the past year the 364-day rate has ranged from 12.70% to 30.41%.
A year earlier the 364-day bill cleared at 30.18%, so the government is paying 1720 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,298 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 11,298 after 12 months: GHS 1,298 in interest before any withholding tax, about GHS 108 a month.
That is GHS 8 more than the same money would have earned at the previous auction.
For shorter money: GHS 632 on the 182-day bill (6 months), GHS 280 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 | 11.195% | 11.171% | — | GHS 2.75bn | GHS 2.74bn |
| 182-day | 12.649% | 12.615% | — | GHS 2.72bn | GHS 2.71bn |
| 364-day | 12.981% | 12.902% | — | GHS 4.61bn | GHS 4.60bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 16 January 2026, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-01-16
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