Ghana Treasury bills · auction of 9 March 2026
Ghana T-bill auction, 9 March 2026: 364-day at 9.35%, down 41 bps
At the Treasury bill auction dated 9 March 2026, the Bank of Ghana cleared the 91-day bill at 4.83% (down 50 basis points), the 182-day bill at 6.30% (down 67 basis points) and the 364-day bill at 9.35% (down 41 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 10.8bn and GHS 6.1bn was accepted, 57% of what was bid.
At 9.35%, the 364-day rate is the lowest in the 51 auctions of the past year.
A year earlier the 364-day bill cleared at 22.70%, so the government is paying 1335 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 935 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 10,935 after 12 months: GHS 935 in interest before any withholding tax, about GHS 78 a month.
That is GHS 41 less than the same money would have earned at the previous auction.
For shorter money: GHS 315 on the 182-day bill (6 months), GHS 121 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 | 4.825% | 5.324% | — | GHS 5.21bn | GHS 3.47bn |
| 182-day | 6.305% | 6.978% | — | GHS 1.96bn | GHS 946m |
| 364-day | 9.349% | 9.762% | — | GHS 3.60bn | GHS 1.72bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 9 March 2026, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-03-09
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