Uganda Treasury bills · auction of 14 August 2025
Uganda T-bill auction, 14 August 2025: 364-day at 15.25%, unchanged
At the Treasury bill auction dated 14 August 2025, the Bank of Uganda cleared the 91-day bill at 10.57% (up 7 basis points), the 182-day bill at 13.11% (down 1 basis point) and the 364-day bill at 15.25% (unchanged). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 646.2bn against UGX 355.0bn on offer, 182% of the amount sought, and UGX 419.3bn was accepted.
Over the past year the 364-day rate has ranged from 14.00% to 15.50%.
A year earlier the 364-day bill cleared at 13.75%, so the government is paying 150 basis points more than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,525,000 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 11,525,000 after 12 months: UGX 1,525,000 in interest before any withholding tax, about UGX 127,083 a month.
That is the same as at the previous auction.
For shorter money: UGX 655,500 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 11,525,000 baada ya miezi 12: riba ya UGX 1,525,000 kabla ya kodi yoyote ya zuio, yaani takriban UGX 127,083 kwa mwezi.
Ni sawa na 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% | 10.500% | UGX 25.00bn | UGX 46.92bn | UGX 6.67bn |
| 182-day | 13.110% | 13.119% | UGX 75.00bn | UGX 104.71bn | UGX 30.96bn |
| 364-day | 15.250% | 15.250% | UGX 255.00bn | UGX 494.56bn | UGX 381.69bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 14 August 2025, compiled from the Bank of Uganda. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2025-08-14
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