Ghana Treasury bills · auction of 14 September 2026
Ghana T-bill auction, 14 September 2026: 364-day at 10.10%, down 2 bps
At the Treasury bill auction dated 14 September 2026, the Bank of Ghana cleared the 91-day bill at 4.69% (down 11 basis points), the 182-day bill at 6.51% (down 17 basis points) and the 364-day bill at 10.10% (down 2 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 8.2bn and GHS 7.2bn was accepted, 88% 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 12.97%, so the government is paying 287 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 1,010 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 11,010 after 12 months: GHS 1,010 in interest before any withholding tax, about GHS 84 a month.
That is GHS 2 less than the same money would have earned at the previous auction.
For shorter money: GHS 326 on the 182-day bill (6 months), GHS 117 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 | 4.695% | 4.805% | — | GHS 4.56bn | GHS 4.52bn |
| 182-day | 6.511% | 6.683% | — | GHS 2.07bn | GHS 1.82bn |
| 364-day | 10.102% | 10.117% | — | GHS 1.56bn | GHS 868m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 14 September 2026, compiled from the Bank of Ghana. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-09-14
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