Kenya Treasury bills · auction of 26 May 2025
Kenya T-bill auction, 26 May 2025: 91-day at 8.323%, down 5 bps
At the Treasury bill auction dated 26 May 2025, the Central Bank of Kenya cleared the 91-day bill at 8.323% (down 5 basis points), the 182-day bill at 8.575% (down 1 basis point) and the 364-day bill at 10.003% (unchanged).
The auction was fully subscribed: bids totalled KES 34.2bn against KES 24.0bn on offer, a subscription rate of 142%. The government accepted KES 29.9bn, or 88% of what was bid.
The 364-day paper drew the most interest relative to its size, at 183% subscribed.
At 8.323%, the 91-day rate is the lowest in the 52 auctions of the past year.
What this means for KES 100,000
Worked from the published rate · information, not advice
KES 8,502 in 12 months on the 364-day bill, after tax
Put KES 100,000 into the 364-day bill at this auction and you get back KES 108,502 after 12 months: KES 8,502 in interest after 15% withholding tax (KES 10,003 before), about KES 709 a month.
That is the same as at the previous auction.
For shorter money: KES 3,644 on the 182-day bill (6 months), KES 1,769 on the 91-day bill (3 months).
The Central Bank’s minimum bid is KES 100,000, and the government pays the full amount at maturity; the risk is Kenya’s government not paying, and the money is locked until then.
Kwa Kiswahili
Ukiweka KES 100,000 kwenye hati ya siku 364 kwa riba ya mnada huu, utarudishiwa KES 108,502 baada ya miezi 12: riba ya KES 8,502 baada ya kodi ya zuio ya 15% (KES 10,003 kabla ya kodi), yaani takriban KES 709 kwa mwezi.
Ni sawa na mnada uliopita.
Kiwango cha chini cha Benki Kuu ni KES 100,000. Serikali hulipa yote mwishoni mwa muda; hatari ni serikali kushindwa kulipa, na pesa haipatikani hadi muda uishe.
Compare with money market funds and bank deposits, after tax →
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Subscription | Accepted | Price /100 |
|---|---|---|---|---|---|---|---|
| 91-day | 8.323% | 8.370% | KES 4.00bn | KES 4.53bn | 113% | KES 4.51bn | 97.967 |
| 182-day | 8.575% | 8.583% | KES 10.00bn | KES 11.39bn | 114% | KES 7.53bn | 95.900 |
| 364-day | 10.003% | 10.002% | KES 10.00bn | KES 18.27bn | 183% | KES 17.91bn | 90.930 |
Source: Central Bank of Kenya result notice · the PDF these figures were read from
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