Uganda Treasury bills · auction of 8 April 2021
Uganda T-bill auction, 8 April 2021: 364-day at 11.85%, up 30 bps
At the Treasury bill auction dated 8 April 2021, the Bank of Uganda cleared the 91-day bill at 7.01% (up 1 basis point), the 182-day bill at 10.00% (down 7 basis points) and the 364-day bill at 11.85% (up 30 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 421.0bn against UGX 245.0bn on offer, 172% of the amount sought, and UGX 237.2bn was accepted.
Over the past year the 364-day rate has ranged from 11.55% to 14.35%.
A year earlier the 364-day bill cleared at 11.55%, so the government is paying 30 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,185,100 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 11,185,100 after 12 months: UGX 1,185,100 in interest before any withholding tax, about UGX 98,758 a month.
That is UGX 30,100 more than the same money would have earned at the previous auction.
For shorter money: UGX 499,950 on the 182-day bill (6 months), UGX 175,275 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 11,185,100 baada ya miezi 12: riba ya UGX 1,185,100 kabla ya kodi yoyote ya zuio, yaani takriban UGX 98,758 kwa mwezi.
Hiyo ni UGX 30,100 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 | 7.011% | 6.999% | UGX 15.00bn | UGX 37.03bn | UGX 7.73bn |
| 182-day | 9.999% | 10.072% | UGX 35.00bn | UGX 92.38bn | UGX 26.88bn |
| 364-day | 11.851% | 11.550% | UGX 195.00bn | UGX 291.59bn | UGX 202.59bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 8 April 2021, compiled from the Bank of Uganda. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2021-04-08
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