Uganda Treasury bills · auction of 6 January 2022
Uganda T-bill auction, 6 January 2022: 364-day at 10.40%, unchanged
At the Treasury bill auction dated 6 January 2022, the Bank of Uganda cleared the 91-day bill at 6.50% (unchanged), the 182-day bill at 8.40% (down 6 basis points) and the 364-day bill at 10.40% (unchanged). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 394.3bn against UGX 220.0bn on offer, 179% of the amount sought, and UGX 218.2bn was accepted.
Over the past year the 364-day rate has ranged from 9.74% to 14.35%.
A year earlier the 364-day bill cleared at 14.00%, so the government is paying 360 basis points less than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,040,000 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 11,040,000 after 12 months: UGX 1,040,000 in interest before any withholding tax, about UGX 86,667 a month.
That is UGX 400 less than the same money would have earned at the previous auction.
For shorter money: UGX 420,000 on the 182-day bill (6 months), UGX 162,525 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 11,040,000 baada ya miezi 12: riba ya UGX 1,040,000 kabla ya kodi yoyote ya zuio, yaani takriban UGX 86,667 kwa mwezi.
Hiyo ni UGX 400 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 | 6.501% | 6.501% | UGX 20.00bn | UGX 39.66bn | UGX 10.56bn |
| 182-day | 8.400% | 8.465% | UGX 40.00bn | UGX 56.87bn | UGX 18.87bn |
| 364-day | 10.400% | 10.404% | UGX 160.00bn | UGX 297.77bn | UGX 188.77bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 6 January 2022, compiled from the Bank of Uganda. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2022-01-06
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