At the Treasury bill auction dated 12 October 2026, the Bank of Ghana cleared the 91-day bill at 4.60% (down 4 basis points), the 182-day bill at 6.28% (down 4 basis points) and the 364-day bill at 9.75% (down 5 basis points). The rate shown is the weighted average interest-rate equivalent.
Bids totalled GHS 5.1bn and GHS 4.4bn was accepted, 87% 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 12.87%, so the government is paying 312 basis points less than twelve months ago.
What this means for GHS 10,000
Worked from the published rate · information, not advice
GHS 975 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 10,975 after 12 months: GHS 975 in interest before any withholding tax, about GHS 81 a month.
That is GHS 5 less than the same money would have earned at the previous auction.
For shorter money: GHS 314 on the 182-day bill (6 months), GHS 115 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 | 4.604% | 4.641% | — | GHS 3.29bn | GHS 3.01bn |
| 182-day | 6.279% | 6.319% | — | GHS 1.31bn | GHS 1.26bn |
| 364-day | 9.752% | 9.802% | — | GHS 469m | GHS 136m |
Source: Bank of Ghana result · weighted average interest-rate equivalent
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Afronomics (2026). Ghana Treasury bill auction, 12 October 2026, compiled from the Bank of Ghana. Retrieved 4 November 2026, from https://www.afronomicsfeed.com/markets/tbills/ghana/2026-10-12
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