The Bank of Uganda (BoU) has announced the invitation for bids on its latest Treasury Bill auction, Issue No. 1222, offering a total of UGX 355 billion in government securities. The auction, scheduled for Wednesday, 11 February, will see investors vying for short-, medium-, and long-term government debt instruments.
The securities on offer include a 91-day Treasury Bill worth UGX 25 billion, a 182-day instrument valued at UGX 75 billion, and a 364-day bill totaling UGX 255 billion. The bills will mature on 14 May 2026, 13 August 2026, and 11 February 2027 respectively, with settlement set for 12 February 2026.
Primary Dealer Banks (PDs) and other commercial banks are required to submit bids electronically via the Central Securities Depository (CSD) no later than 10:00 a.m. on the auction day. Competitive bids, which can only be submitted by PDs, must specify prices with three decimal places, while non-competitive bids, available to any commercial bank, are accepted in full at the cut-off price up to UGX 200 million per maturity.
The minimum bid for competitive applications is UGX 200,100,000, while non-competitive bids start from UGX 100,000. All successful bids, whether competitive or non-competitive, will be allocated at a uniform price—the lowest auction price per 100, corresponding to the highest accepted yield.
The Bank of Uganda has reserved the right to adjust the offered amounts or reject any applications in part or whole, ensuring flexibility in its debt management strategy.
Current Primary Dealer Banks participating in competitive bids include Absa Bank, Citi Bank, Centenary Bank, DFCU Bank, Equity Bank, Housing Finance Bank, Stanbic Bank, and Standard Chartered Bank.
Analysts note that BoU’s regular Treasury Bill auctions are crucial for maintaining liquidity in Uganda’s financial system and providing a low-risk investment avenue for banks and institutional investors.
The issuance also supports the government’s financing needs while helping shape short-term interest rate benchmarks in the money market.
Investors are advised to submit bids promptly to meet the strict deadline, as these government securities remain a key tool for portfolio diversification and yield management.