Tanzania Treasury bills · auction of 22 February 2023
Tanzania T-bill auction, 22 February 2023: 364-day at 7.04%, down 16 bps
At the Treasury bill auction dated 22 February 2023, the Bank of Tanzania cleared the 91-day bill at 3.99% (down 1 basis point), the 182-day bill at 5.22% (down 1 basis point) and the 364-day bill at 7.04% (down 16 basis points). The rate shown is the weighted average yield of successful bids.
Demand was strong: bids totalled TZS 467.1bn against TZS 152.0bn on offer, 307% of the amount sought, and TZS 151.1bn was accepted.
Over the past year the 364-day rate has ranged from 3.19% to 7.20%.
A year earlier the 364-day bill cleared at 4.96%, so the government is paying 208 basis points more than twelve months ago.
What this means for TZS 1,000,000
Worked from the published rate · information, not advice
TZS 70,381 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 1,070,381 after 12 months: TZS 70,381 in interest before any withholding tax, about TZS 5,865 a month.
That is TZS 1,591 less than the same money would have earned at the previous auction.
For shorter money: TZS 26,102 on the 182-day bill (6 months), TZS 9,975 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 1,070,381 baada ya miezi 12: riba ya TZS 70,381 kabla ya kodi yoyote ya zuio, yaani takriban TZS 5,865 kwa mwezi.
Hiyo ni TZS 1,591 pungufu 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 | 3.990% | 4.000% | TZS 9.90bn | TZS 9.00bn | TZS 9.00bn |
| 182-day | 5.220% | 5.232% | TZS 64.90bn | TZS 116.00bn | TZS 64.90bn |
| 364-day | 7.038% | 7.197% | TZS 77.22bn | TZS 342.15bn | TZS 77.22bn |
Source: Bank of Tanzania result · weighted average yield of successful bids
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Afronomics (2026). Tanzania Treasury bill auction, 22 February 2023, compiled from the Bank of Tanzania. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/tanzania/2023-02-22
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