Tanzania Treasury bills · auction of 27 September 2023
Tanzania T-bill auction, 27 September 2023: 364-day at 8.11%, up 79 bps
At the Treasury bill auction dated 27 September 2023, the Bank of Tanzania cleared the 91-day bill at 6.03% (up 38 basis points), the 182-day bill at 7.34% (up 39 basis points) and the 364-day bill at 8.11% (up 79 basis points). The rate shown is the weighted average yield of successful bids.
The auction was undersubscribed: bids totalled TZS 92.5bn against TZS 162.5bn on offer, 57% of the amount sought, and TZS 92.4bn was accepted.
At 8.11%, the 364-day rate is the highest in the 20 auctions of the past year.
A year earlier the 364-day bill cleared at 4.91%, so the government is paying 320 basis points more than twelve months ago.
What this means for TZS 1,000,000
Worked from the published rate · information, not advice
TZS 81,084 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 1,081,084 after 12 months: TZS 81,084 in interest before any withholding tax, about TZS 6,757 a month.
That is TZS 7,864 more than the same money would have earned at the previous auction.
For shorter money: TZS 36,704 on the 182-day bill (6 months), TZS 15,075 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 1,081,084 baada ya miezi 12: riba ya TZS 81,084 kabla ya kodi yoyote ya zuio, yaani takriban TZS 6,757 kwa mwezi.
Hiyo ni TZS 7,864 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 | 6.030% | 5.649% | TZS 19.90bn | TZS 10.00bn | TZS 10.00bn |
| 182-day | 7.341% | 6.950% | TZS 69.90bn | TZS 11.00bn | TZS 11.00bn |
| 364-day | 8.108% | 7.322% | TZS 72.67bn | TZS 71.47bn | TZS 71.42bn |
Source: Bank of Tanzania result · weighted average yield of successful bids
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Afronomics (2026). Tanzania Treasury bill auction, 27 September 2023, compiled from the Bank of Tanzania. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/tanzania/2023-09-27
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