South Africa Treasury bills · auction of 22 April 2016
South Africa T-bill auction, 22 April 2016: 364-day at 7.24%, down 2 bps
At the Treasury bill auction dated 22 April 2016, the South African Reserve Bank cleared the 364-day bill at 7.24% (down 2 basis points). The rate shown is the average rate at which bills are allotted in the weekly auction.
Over the past year the 364-day rate has ranged from 5.88% to 7.66%.
A year earlier the 364-day bill cleared at 5.82%, so the government is paying 142 basis points more than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 7,240 in 12 months on the 364-day bill
Put ZAR 100,000 into the 364-day bill at this auction and you get back ZAR 107,240 after 12 months: ZAR 7,240 in interest before any withholding tax, about ZAR 603 a month.
That is ZAR 20 less than the same money would have earned at the previous auction.
The government pays the full amount at maturity; the risk is South Africa’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 364-day | 7.240% | 7.260% | — | — | — |
Source: South African Reserve Bank result · average rate at which bills are allotted in the weekly auction
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Afronomics (2026). South Africa Treasury bill auction, 22 April 2016, compiled from the South African Reserve Bank. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2016-04-22
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