Ghana Treasury Bills & Bond Market
Live Ghanaian government debt, Bank of Ghana 91/182/364-day Treasury Bill auction rates, weekly tender history, and the post-restructuring landscape. The BoG runs GoG tenders every Friday; results land here within hours.
Current T-Bill Yields
Weighted average interest rate at the most recent BoG tender.
Recent BoG Tenders
Bank of Ghana weekly Government of Ghana securities tenders. Interest rate is the weighted average yield of accepted bids; tendered and accepted amounts are in millions of Ghanaian Cedis (GH¢).
| Tender Date | Tenor | Interest Rate | Tendered (GH¢ m) | Accepted (GH¢ m) |
|---|---|---|---|---|
| May 22, 2026 | 91-day | 4.9143% | 2,526 | 2,511 |
| May 22, 2026 | 182-day | 7.0406% | 878 | 724 |
| May 22, 2026 | 364-day | 10.3716% | 817 | — |
| May 15, 2026 | 91-day | 4.9174% | 3,833 | 3,653 |
| May 15, 2026 | 182-day | 7.0411% | 710 | 672 |
| May 15, 2026 | 364-day | 10.3857% | 1,255 | — |
| May 8, 2026 | 91-day | 4.8832% | 5,716 | 4,374 |
| May 8, 2026 | 182-day | 7.0384% | 651 | 572 |
| May 8, 2026 | 364-day | 10.1302% | 1,463 | — |
| Apr 30, 2026 | 91-day | 4.9233% | 1,894 | 1,889 |
| Apr 30, 2026 | 182-day | 6.9715% | 764 | 764 |
| Apr 30, 2026 | 364-day | 10.1968% | 1,830 | — |
| Apr 24, 2026 | 91-day | 4.9244% | 2,756 | 2,710 |
| Apr 24, 2026 | 182-day | 6.9630% | 718 | 664 |
| Apr 24, 2026 | 364-day | 10.1239% | 960 | — |
| Apr 17, 2026 | 91-day | 4.9480% | 2,555 | 2,541 |
| Apr 17, 2026 | 182-day | 6.9099% | 771 | 758 |
| Apr 17, 2026 | 364-day | 10.1283% | 1,162 | — |
| Apr 10, 2026 | 91-day | 4.9106% | 4,439 | 4,429 |
| Apr 10, 2026 | 182-day | 6.7760% | 522 | 522 |
| Apr 10, 2026 | 364-day | 9.9788% | 349 | — |
| Apr 2, 2026 | 91-day | 4.8170% | 2,022 | 1,999 |
| Apr 2, 2026 | 182-day | 6.7104% | 499 | 417 |
| Apr 2, 2026 | 364-day | 9.8422% | 648 | — |
Source: Bank of Ghana, Government of Ghana securities tender results. Auctions Fridays.
About the Ghanaian sovereign debt market
The Bank of Ghana (BoG) manages government debt issuance on behalf of the Government of Ghana. Weekly tenders cover the three Treasury Bill tenors (91-day, 182-day, and 364-day). T-bills are issued at a discount and bought primarily by commercial banks acting as Primary Dealers, who then offer them to investors via the Ghana Fixed Income Market.
Ghana's longer-dated bond market was significantly restructured through the 2022-23 Domestic Debt Exchange Programme (DDEP), which extended maturities and reduced coupon rates on most outstanding local-currency bonds. As a result, fresh long-dated bond issuance has been limited; the BoG primary calendar is currently dominated by short T-bills. Bond issuance is expected to gradually return as macro stability and investor confidence recover.
Ghana also has USD-denominated Eurobonds, several of which were restructured in 2024, these now trade on the London Stock Exchange. Eurobond coverage on Mansa is planned in a future release.
Frequently asked questions
What is the current 91-day Ghana Treasury Bill rate?
The latest 91-day Bank of Ghana T-bill rate is shown live at the top of this page. Ghana T-bill rates have moved sharply between 2024 and 2026 as the Bank of Ghana cut its monetary policy rate in response to falling inflation.
How often does the Bank of Ghana auction Treasury Bills?
Weekly. The Bank of Ghana runs a Government of Ghana (GoG) securities tender every Friday, covering 91-day, 182-day, and 364-day Treasury Bills. Results are published the same day on the BoG website.
Does Ghana issue longer-dated bonds today?
Ghana's domestic bond market is limited following the 2022-23 Domestic Debt Exchange Programme (DDEP), which restructured existing local-currency bonds. The Bank of Ghana primary auction calendar is currently dominated by T-bills (91/182/364-day), with longer bond issuance occurring only intermittently. Restored bond issuance is expected to expand as fiscal stability returns.
How do I buy Ghana Treasury Bills?
Through any Primary Dealer bank (Ecobank, GCB Bank, Standard Chartered Ghana, Stanbic Bank Ghana, and others). Retail investors access the secondary market through Depository Participants. The minimum is set by individual dealers but is typically GH¢ 100 for retail.
Are Ghana T-bill returns taxed?
Interest on Government of Ghana securities is subject to withholding tax for individuals (typically 8% on T-bill interest), though institutional investor treatment varies. Confirm current rates with a Ghanaian tax adviser before investing.
What is the Ghana Fixed Income Market?
GFIM is Ghana's regulated secondary market for fixed-income securities, operated under the Ghana Stock Exchange. It's where GoG securities trade after primary auction, and where retail investors typically transact through Depository Participants.