Uganda Treasury bills · auction of 11 May 2022
Uganda T-bill auction, 11 May 2022: 364-day at 9.00%, up 10 bps
At the Treasury bill auction dated 11 May 2022, the Bank of Uganda cleared the 91-day bill at 6.60% (unchanged), the 182-day bill at 8.00% (unchanged) and the 364-day bill at 9.00% (up 10 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 334.4bn against UGX 205.0bn on offer, 163% of the amount sought, and UGX 169.7bn was accepted.
Over the past year the 364-day rate has ranged from 8.90% to 10.70%.
A year earlier the 364-day bill cleared at 11.40%, so the government is paying 240 basis points less than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 900,000 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 10,900,000 after 12 months: UGX 900,000 in interest before any withholding tax, about UGX 75,000 a month.
That is UGX 10,100 more than the same money would have earned at the previous auction.
For shorter money: UGX 400,000 on the 182-day bill (6 months), UGX 165,025 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 10,900,000 baada ya miezi 12: riba ya UGX 900,000 kabla ya kodi yoyote ya zuio, yaani takriban UGX 75,000 kwa mwezi.
Hiyo ni UGX 10,100 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 | 6.601% | 6.601% | UGX 15.00bn | UGX 41.94bn | UGX 15.00bn |
| 182-day | 8.000% | 8.000% | UGX 30.00bn | UGX 55.39bn | UGX 22.64bn |
| 364-day | 9.000% | 8.899% | UGX 160.00bn | UGX 237.10bn | UGX 132.10bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 11 May 2022, compiled from the Bank of Uganda. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2022-05-11
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