Uganda Treasury bills · auction of 26 September 2024
Uganda T-bill auction, 26 September 2024: 364-day at 14.50%, up 25 bps
At the Treasury bill auction dated 26 September 2024, the Bank of Uganda cleared the 91-day bill at 10.57% (down 23 basis points), the 182-day bill at 13.00% (unchanged) and the 364-day bill at 14.50% (up 25 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 570.1bn against UGX 355.0bn on offer, 161% of the amount sought, and UGX 276.9bn was accepted.
At 14.50%, the 364-day rate is the highest in the 14 auctions of the past year.
A year earlier the 364-day bill cleared at 12.60%, so the government is paying 190 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,449,900 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 11,449,900 after 12 months: UGX 1,449,900 in interest before any withholding tax, about UGX 120,825 a month.
That is UGX 24,900 more than the same money would have earned at the previous auction.
For shorter money: UGX 650,050 on the 182-day bill (6 months), UGX 264,300 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 11,449,900 baada ya miezi 12: riba ya UGX 1,449,900 kabla ya kodi yoyote ya zuio, yaani takriban UGX 120,825 kwa mwezi.
Hiyo ni UGX 24,900 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 | 10.572% | 10.804% | UGX 25.00bn | UGX 53.85bn | UGX 28.72bn |
| 182-day | 13.001% | 13.001% | UGX 75.00bn | UGX 84.22bn | UGX 25.47bn |
| 364-day | 14.499% | 14.250% | UGX 255.00bn | UGX 432.00bn | UGX 222.68bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 26 September 2024, compiled from the Bank of Uganda. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2024-09-26
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