Ghana Treasury bills · auction of 9 February 2026
Ghana T-bill auction, 9 February 2026: 364-day at 12.06%, down 76 bps
At the Treasury bill auction dated 9 February 2026, the Bank of Ghana cleared the 91-day bill at 9.97% (down 86 basis points), the 182-day bill at 11.82% (down 56 basis points) and the 364-day bill at 12.06% (down 76 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 17.2bn and GHS 5.8bn was accepted, 34% of what was bid.
At 12.06%, the 364-day rate is the lowest in the 49 auctions of the past year.
A year earlier the 364-day bill cleared at 30.37%, so the government is paying 1831 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,206 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 11,206 after 12 months: GHS 1,206 in interest before any withholding tax, about GHS 101 a month.
That is GHS 76 less than the same money would have earned at the previous auction.
For shorter money: GHS 591 on the 182-day bill (6 months), GHS 249 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 | 9.970% | 10.826% | — | GHS 6.57bn | GHS 2.52bn |
| 182-day | 11.816% | 12.381% | — | GHS 3.72bn | GHS 1.30bn |
| 364-day | 12.062% | 12.823% | — | GHS 6.94bn | GHS 2.00bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 9 February 2026, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-02-09
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