Uganda Treasury bills · auction of 31 January 2019
Uganda T-bill auction, 31 January 2019: 364-day at 12.50%, down 75 bps
At the Treasury bill auction dated 31 January 2019, the Bank of Uganda cleared the 91-day bill at 10.34% (down 23 basis points), the 182-day bill at 11.70% (down 30 basis points) and the 364-day bill at 12.50% (down 75 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 593.9bn against UGX 220.0bn on offer, 270% of the amount sought, and UGX 220.0bn was accepted.
Over the past year the 364-day rate has ranged from 9.86% to 14.50%.
A year earlier the 364-day bill cleared at 9.04%, so the government is paying 346 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,249,700 in 12 months on the 364-day bill
Put UGX 10,000,000 into the 364-day bill at this auction and you get back UGX 11,249,700 after 12 months: UGX 1,249,700 in interest before any withholding tax, about UGX 104,142 a month.
That is UGX 75,200 less than the same money would have earned at the previous auction.
For shorter money: UGX 584,950 on the 182-day bill (6 months), UGX 258,600 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Uganda’s government not paying, and the money is locked until then.
Kwa Kiswahili
Ukiweka UGX 10,000,000 kwenye hati ya siku 364 kwa riba ya mnada huu, utarudishiwa UGX 11,249,700 baada ya miezi 12: riba ya UGX 1,249,700 kabla ya kodi yoyote ya zuio, yaani takriban UGX 104,142 kwa mwezi.
Hiyo ni UGX 75,200 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 | 10.344% | 10.572% | UGX 15.00bn | UGX 46.07bn | UGX 15.00bn |
| 182-day | 11.699% | 12.001% | UGX 35.00bn | UGX 104.46bn | UGX 35.00bn |
| 364-day | 12.497% | 13.249% | UGX 170.00bn | UGX 443.35bn | UGX 170.00bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Bank of Uganda” and a link to this page.
Afronomics (2026). Uganda Treasury bill auction, 31 January 2019, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2019-01-31
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.