At the Treasury bill auction dated 5 October 2026, the Bank of Ghana cleared the 91-day bill at 4.64% (down 4 basis points), the 182-day bill at 6.32% (down 5 basis points) and the 364-day bill at 9.80% (down 3 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 2.9bn and GHS 1.8bn was accepted, 61% 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 12.90%, so the government is paying 310 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 980 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 10,980 after 12 months: GHS 980 in interest before any withholding tax, about GHS 82 a month.
That is GHS 3 less than the same money would have earned at the previous auction.
For shorter money: GHS 316 on the 182-day bill (6 months), GHS 116 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 | 4.641% | 4.678% | — | GHS 2.21bn | GHS 1.39bn |
| 182-day | 6.319% | 6.370% | — | GHS 235m | GHS 154m |
| 364-day | 9.802% | 9.834% | — | GHS 475m | GHS 224m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 5 October 2026, compiled from the Bank of Ghana. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-10-05
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