At the Treasury bill auction dated 20 April 2026, the Bank of Ghana cleared the 91-day bill at 4.95% (up 4 basis points), the 182-day bill at 6.91% (up 13 basis points) and the 364-day bill at 10.13% (up 15 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 4.5bn and GHS 4.1bn was accepted, 91% of what was bid.
Over the past year the 364-day rate has ranged from 9.35% to 18.37%.
A year earlier the 364-day bill cleared at 18.65%, so the government is paying 852 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,013 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 11,013 after 12 months: GHS 1,013 in interest before any withholding tax, about GHS 84 a month.
That is GHS 15 more than the same money would have earned at the previous auction.
For shorter money: GHS 345 on the 182-day bill (6 months), GHS 124 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 | 4.948% | 4.911% | — | GHS 2.56bn | GHS 2.54bn |
| 182-day | 6.910% | 6.776% | — | GHS 771m | GHS 758m |
| 364-day | 10.128% | 9.979% | — | GHS 1.16bn | GHS 791m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 20 April 2026, compiled from the Bank of Ghana. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-04-20
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