Ghana Treasury bills · auction of 7 September 2026
Ghana T-bill auction, 7 September 2026: 364-day at 10.12%, down 285 bps
At the Treasury bill auction dated 7 September 2026, the Bank of Ghana cleared the 91-day bill at 4.80% (down 98 basis points), the 182-day bill at 6.68% (down 101 basis points) and the 364-day bill at 10.12% (down 285 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 9.9bn and GHS 8.4bn was accepted, 84% of what was bid.
Over the past year the 364-day rate has ranged from 9.35% to 13.09%.
A year earlier the 364-day bill cleared at 13.00%, so the government is paying 288 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,012 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 11,012 after 12 months: GHS 1,012 in interest before any withholding tax, about GHS 84 a month.
That is GHS 285 less than the same money would have earned at the previous auction.
For shorter money: GHS 334 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 | 4.805% | 5.788% | — | GHS 6.23bn | GHS 5.84bn |
| 182-day | 6.683% | 7.689% | — | GHS 1.92bn | GHS 1.59bn |
| 364-day | 10.117% | 12.967% | — | GHS 1.80bn | GHS 953m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 7 September 2026, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-09-07
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