If you've been sending money to Ghana for years, you've probably thought about putting some of it to work. Ghana Government Treasury Bills are one of the most straightforward ways to do that — and Klosa makes them accessible from Canada without opening a local brokerage account.
What are Treasury Bills?
Treasury Bills (T-Bills) are short-term government debt instruments issued by the Bank of Ghana on behalf of the Republic of Ghana. When you buy a T-Bill, you're effectively lending money to the Ghanaian government for a fixed period. At the end of that period, you get back your principal plus interest.
They're considered low-risk because they're backed by sovereign government debt — the same principle behind Canadian Government T-Bills or US Treasury notes.
Available tenors
Ghana T-Bills come in three durations:
Longer tenors typically offer higher rates, reflecting the additional time commitment.
How rates are set
The Bank of Ghana holds weekly T-Bill auctions. Rates fluctuate based on monetary policy, inflation, and government borrowing needs. Klosa displays current rates at the time of purchase so you always know what you're committing to.
Buying through Klosa
Through Klosa, you can:
1. Fund your investment in CAD from Canada
2. Klosa converts and purchases GHS-denominated T-Bills on your behalf
3. At maturity, principal plus interest is returned to your Klosa account
4. Withdraw to any Ghana bank account, or reinvest
The minimum investment is CAD 50 (GHS equivalent at current rates).
What about currency risk?
This is the most important consideration for diaspora investors. T-Bills pay returns in GHS. If the cedi depreciates against the CAD between purchase and maturity, your CAD-equivalent return will be lower.
Some investors treat this as a long-term position — accepting some currency risk in exchange for exposure to Ghanaian assets and the convenience of having funds locally. Others use T-Bills specifically to hold GHS they plan to spend in Ghana anyway, making currency risk moot.
Can I withdraw early?
T-Bills can be sold on the secondary market before maturity, but at current market value — which may mean a slight discount on the face value. For most investors, holding to maturity is the right move.
Tax implications
Interest income from Ghana T-Bills is subject to Ghanaian withholding tax. Consult a tax professional about how this interacts with your Canadian tax obligations — particularly if you're a Canadian resident filing a T1 return.
T-Bills aren't for everyone, but if you're already moving money to Ghana regularly, they're a simple way to put that capital to work while it's there.
Available in Canada now