Tanzania Treasury bills · auction of 15 December 2021
Tanzania T-bill auction, 15 December 2021: 364-day at 4.89%, up 24 bps
At the Treasury bill auction dated 15 December 2021, the Bank of Tanzania cleared the 91-day bill at 2.99% (up 219 basis points), the 182-day bill at 3.51% (up 47 basis points) and the 364-day bill at 4.89% (up 24 basis points). The rate shown is the weighted average yield of successful bids.
The auction was undersubscribed: bids totalled TZS 51.5bn against TZS 77.4bn on offer, 67% of the amount sought, and TZS 45.5bn was accepted.
Over the past year the 364-day rate has ranged from 3.62% to 6.02%.
A year earlier the 364-day bill cleared at 4.34%, so the government is paying 55 basis points more than twelve months ago.
What this means for TZS 1,000,000
Worked from the published rate · information, not advice
TZS 48,852 in 12 months on the 364-day bill
Put TZS 1,000,000 into the 364-day bill at this auction and you get back TZS 1,048,852 after 12 months: TZS 48,852 in interest before any withholding tax, about TZS 4,071 a month.
That is TZS 2,447 more than the same money would have earned at the previous auction.
For shorter money: TZS 17,549 on the 182-day bill (6 months), TZS 7,476 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Tanzania’s government not paying, and the money is locked until then.
Kwa Kiswahili
Ukiweka TZS 1,000,000 kwenye hati ya siku 364 kwa riba ya mnada huu, utarudishiwa TZS 1,048,852 baada ya miezi 12: riba ya TZS 48,852 kabla ya kodi yoyote ya zuio, yaani takriban TZS 4,071 kwa mwezi.
Hiyo ni TZS 2,447 zaidi ya kiasi ambacho pesa hiyo hiyo ingepata kwenye mnada uliopita.
Serikali hulipa yote mwishoni mwa muda; hatari ni serikali kushindwa kulipa, na pesa haipatikani hadi muda uishe.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 2.990% | 0.804% | TZS 1.70bn | TZS 500m | TZS 500m |
| 182-day | 3.510% | 3.042% | TZS 3.00bn | TZS 500m | TZS 500m |
| 364-day | 4.885% | 4.641% | TZS 72.70bn | TZS 50.50bn | TZS 44.50bn |
Source: Bank of Tanzania result · weighted average yield of successful bids
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Afronomics (2026). Tanzania Treasury bill auction, 15 December 2021, compiled from the Bank of Tanzania. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/tanzania/2021-12-15
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