Uganda Treasury bills · auction of 28 March 2024
Uganda T-bill auction, 28 March 2024: 364-day at 13.25%, unchanged
At the Treasury bill auction dated 28 March 2024, the Bank of Uganda cleared the 91-day bill at 9.27% (down 37 basis points), the 182-day bill at 12.00% (unchanged) and the 364-day bill at 13.25% (unchanged). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 747.3bn against UGX 235.0bn on offer, 318% of the amount sought, and UGX 319.8bn was accepted.
At 13.25%, the 364-day rate is the highest in the 15 auctions of the past year.
A year earlier the 364-day bill cleared at 13.00%, so the government is paying 25 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,324,900 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 11,324,900 after 12 months: UGX 1,324,900 in interest before any withholding tax, about UGX 110,408 a month.
That is UGX 100 more than the same money would have earned at the previous auction.
For shorter money: UGX 600,050 on the 182-day bill (6 months), UGX 231,850 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 11,324,900 baada ya miezi 12: riba ya UGX 1,324,900 kabla ya kodi yoyote ya zuio, yaani takriban UGX 110,408 kwa mwezi.
Hiyo ni UGX 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 | 9.274% | 9.644% | UGX 15.00bn | UGX 64.70bn | UGX 25.70bn |
| 182-day | 12.001% | 12.001% | UGX 40.00bn | UGX 98.79bn | UGX 28.79bn |
| 364-day | 13.249% | 13.248% | UGX 180.00bn | UGX 583.79bn | UGX 265.29bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 28 March 2024, compiled from the Bank of Uganda. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2024-03-28
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