Ghana Treasury bills · auction of 25 May 2026
Ghana T-bill auction, 25 May 2026: 364-day at 10.37%, up 17 bps
At the Treasury bill auction dated 25 May 2026, the Bank of Ghana cleared the 91-day bill at 4.91% (down 1 basis point), the 182-day bill at 7.04% (up 7 basis points) and the 364-day bill at 10.37% (up 17 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 4.2bn and GHS 3.9bn was accepted, 93% of what was bid.
Over the past year the 364-day rate has ranged from 9.35% to 15.91%.
A year earlier the 364-day bill cleared at 16.79%, so the government is paying 642 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,037 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 11,037 after 12 months: GHS 1,037 in interest before any withholding tax, about GHS 86 a month.
That is GHS 17 more than the same money would have earned at the previous auction.
For shorter money: GHS 352 on the 182-day bill (6 months), GHS 123 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 | 4.914% | 4.923% | — | GHS 2.53bn | GHS 2.51bn |
| 182-day | 7.041% | 6.971% | — | GHS 878m | GHS 724m |
| 364-day | 10.372% | 10.197% | — | GHS 817m | GHS 700m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 25 May 2026, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-05-25
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