Uganda Treasury bills · auction of 19 December 2024
Uganda T-bill auction, 19 December 2024: 364-day at 15.05%, up 5 bps
At the Treasury bill auction dated 19 December 2024, the Bank of Uganda cleared the 91-day bill at 10.00% (unchanged), the 182-day bill at 12.98% (down 2 basis points) and the 364-day bill at 15.05% (up 5 basis points). The rate shown is the money-market yield at the cut-off price.
The auction was fully subscribed: bids totalled UGX 483.4bn against UGX 355.0bn on offer, 136% of the amount sought, and UGX 217.3bn was accepted.
At 15.05%, the 364-day rate is the highest in the 15 auctions of the past year.
A year earlier the 364-day bill cleared at 12.85%, so the government is paying 220 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,504,700 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 11,504,700 after 12 months: UGX 1,504,700 in interest before any withholding tax, about UGX 125,392 a month.
That is UGX 4,800 more than the same money would have earned at the previous auction.
For shorter money: UGX 648,900 on the 182-day bill (6 months), UGX 250,050 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 11,504,700 baada ya miezi 12: riba ya UGX 1,504,700 kabla ya kodi yoyote ya zuio, yaani takriban UGX 125,392 kwa mwezi.
Hiyo ni UGX 4,800 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 | 10.002% | 10.002% | UGX 25.00bn | UGX 40.11bn | UGX 6.48bn |
| 182-day | 12.978% | 13.001% | UGX 75.00bn | UGX 76.11bn | UGX 7.73bn |
| 364-day | 15.047% | 14.999% | UGX 255.00bn | UGX 367.22bn | UGX 203.10bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 19 December 2024, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2024-12-19
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