South Africa Treasury bills · auction of 2 March 2026
South Africa T-bill auction, 2 March 2026: 364-day at 6.51%, up 2 bps
At the Treasury bill auction dated 2 March 2026, the South African Reserve Bank cleared the 91-day bill at 6.54% (down 1 basis point), the 182-day bill at 6.73% (up 6 basis points) and the 364-day bill at 6.51% (up 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 6.49% to 7.51%.
A year earlier the 364-day bill cleared at 7.57%, so the government is paying 106 basis points less than twelve months ago.
What this means for ZAR 100,000
Worked from the published rate · information, not advice
ZAR 6,510 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 106,510 after 12 months: ZAR 6,510 in interest before any withholding tax, about ZAR 542 a month.
That is ZAR 20 more than the same money would have earned at the previous auction.
For shorter money: ZAR 3,365 on the 182-day bill (6 months), ZAR 1,635 on the 91-day bill (3 months).
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 |
|---|---|---|---|---|---|
| 91-day | 6.540% | 6.550% | — | — | — |
| 182-day | 6.730% | 6.670% | — | — | — |
| 364-day | 6.510% | 6.490% | — | — | — |
Source: South African Reserve Bank result · average rate at which bills are allotted in the weekly auction
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Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the South African Reserve Bank” and a link to this page.
Afronomics (2026). South Africa Treasury bill auction, 2 March 2026, compiled from the South African Reserve Bank. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/southafrica/2026-03-02
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