Ghana Treasury bills · auction of 20 July 2026
Ghana T-bill auction, 20 July 2026: 364-day at 13.00%, unchanged
At the Treasury bill auction dated 20 July 2026, the Bank of Ghana cleared the 91-day bill at 5.78% (down 8 basis points), the 182-day bill at 7.68% (down 11 basis points) and the 364-day bill at 13.00% (unchanged). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 12.7bn and GHS 10.0bn was accepted, 79% of what was bid.
Over the past year the 364-day rate has ranged from 9.35% to 13.25%.
A year earlier the 364-day bill cleared at 15.42%, so the government is paying 242 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,300 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 11,300 after 12 months: GHS 1,300 in interest before any withholding tax, about GHS 108 a month.
That is the same as at the previous auction.
For shorter money: GHS 384 on the 182-day bill (6 months), GHS 145 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 | 5.785% | 5.862% | — | GHS 3.51bn | GHS 3.04bn |
| 182-day | 7.676% | 7.788% | — | GHS 874m | GHS 585m |
| 364-day | 12.995% | 12.992% | — | GHS 8.31bn | GHS 6.35bn |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 20 July 2026, compiled from the Bank of Ghana. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-07-20
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