Ghana Treasury bills · auction of 30 January 2026
Ghana T-bill auction, 30 January 2026: 364-day at 12.82%, down 24 bps
At the Treasury bill auction dated 30 January 2026, the Bank of Ghana cleared the 91-day bill at 10.83% (down 37 basis points), the 182-day bill at 12.38% (down 29 basis points) and the 364-day bill at 12.82% (down 24 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 17.1bn and GHS 12.3bn was accepted, 72% of what was bid.
Over the past year the 364-day rate has ranged from 12.70% to 30.37%.
A year earlier the 364-day bill cleared at 30.41%, so the government is paying 1758 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,282 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 11,282 after 12 months: GHS 1,282 in interest before any withholding tax, about GHS 107 a month.
That is GHS 24 less than the same money would have earned at the previous auction.
For shorter money: GHS 619 on the 182-day bill (6 months), GHS 271 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 | 10.826% | 11.197% | — | GHS 5.91bn | GHS 2.79bn |
| 182-day | 12.381% | 12.666% | — | GHS 4.65bn | GHS 3.55bn |
| 364-day | 12.823% | 13.065% | — | GHS 6.54bn | GHS 5.97bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 30 January 2026, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-01-30
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