Ghana Treasury bills · auction of 23 March 2026
Ghana T-bill auction, 23 March 2026: 364-day at 9.58%, up 18 bps
At the Treasury bill auction dated 23 March 2026, the Bank of Ghana cleared the 91-day bill at 4.78% (up 7 basis points), the 182-day bill at 6.36% (up 8 basis points) and the 364-day bill at 9.58% (up 18 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 3.7bn and GHS 3.3bn was accepted, 88% of what was bid.
Over the past year the 364-day rate has ranged from 9.35% to 18.84%.
A year earlier the 364-day bill cleared at 18.97%, so the government is paying 938 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 958 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 10,958 after 12 months: GHS 958 in interest before any withholding tax, about GHS 80 a month.
That is GHS 18 more than the same money would have earned at the previous auction.
For shorter money: GHS 318 on the 182-day bill (6 months), GHS 120 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 | 4.782% | 4.710% | — | GHS 2.23bn | GHS 1.77bn |
| 182-day | 6.362% | 6.283% | — | GHS 667m | GHS 667m |
| 364-day | 9.583% | 9.406% | — | GHS 831m | GHS 831m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Bank of Ghana” and a link to this page.
Afronomics (2026). Ghana Treasury bill auction, 23 March 2026, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-03-23
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.