Uganda Treasury bills · auction of 9 April 2026
Uganda T-bill auction, 9 April 2026: 364-day at 12.25%, down 25 bps
At the Treasury bill auction dated 9 April 2026, the Bank of Uganda cleared the 91-day bill at 10.00% (unchanged), the 182-day bill at 11.00% (down 66 basis points) and the 364-day bill at 12.25% (down 25 basis points). The rate shown is the money-market yield at the cut-off price.
Demand was strong: bids totalled UGX 702.4bn against UGX 355.0bn on offer, 198% of the amount sought, and UGX 332.8bn was accepted.
At 12.25%, the 364-day rate is the lowest in the 17 auctions of the past year.
A year earlier the 364-day bill cleared at 14.75%, so the government is paying 250 basis points less than twelve months ago.
What this means for UGX 10,000,000
Worked from the published rate · information, not advice
UGX 1,224,900 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 11,224,900 after 12 months: UGX 1,224,900 in interest before any withholding tax, about UGX 102,075 a month.
That is UGX 25,100 less than the same money would have earned at the previous auction.
For shorter money: UGX 550,050 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 11,224,900 baada ya miezi 12: riba ya UGX 1,224,900 kabla ya kodi yoyote ya zuio, yaani takriban UGX 102,075 kwa mwezi.
Hiyo ni UGX 25,100 pungufu 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 96.94bn | UGX 50.68bn |
| 182-day | 11.001% | 11.659% | UGX 75.00bn | UGX 90.19bn | UGX 6.43bn |
| 364-day | 12.249% | 12.500% | UGX 255.00bn | UGX 515.32bn | UGX 275.64bn |
Source: Bank of Uganda result · money-market yield at the cut-off price
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Afronomics (2026). Uganda Treasury bill auction, 9 April 2026, compiled from the Bank of Uganda. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/uganda/2026-04-09
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