Minimum bid
UGX 100,000
Auction day
Wednesdays
Auction time
10:00 EAT
Settlement
T+1 via RTGS
Withholding tax
20% on bills
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Upcoming T-Bill Auctions (FY 2025/26)
5 auctions remaining in this fiscal year. Dates are set by Bank of Uganda and may change — confirm each Invitation-to-Tender on bou.or.ug.
| Auction Date | Settlement Date | Tenors Offered | Days Away |
|---|---|---|---|
| Wed, 22 Apr 2026 | Thu, 23 Apr 2026 | 91-day · 182-day · 364-day | 5 days |
| Wed, 6 May 2026 | Thu, 7 May 2026 | 91-day · 182-day · 364-day | 19 days |
| Wed, 20 May 2026 | Thu, 21 May 2026 | 91-day · 182-day · 364-day | 33 days |
| Thu, 4 Jun 2026 | Fri, 5 Jun 2026 | 91-day · 182-day · 364-day | 48 days |
| Wed, 17 Jun 2026 | Thu, 18 Jun 2026 | 91-day · 182-day · 364-day | 61 days |
Upcoming T-bond auctions (2): Wed, 13 May 2026, Wed, 10 Jun 2026. A dedicated T-Bonds calendar page is coming soon.
How to buy T-bills in Uganda
- 1
Open a CSD account through a commercial bank
All T-bill bids must go through a licensed commercial bank that holds a CSD account with Bank of Uganda. Visit your bank with your national ID, a passport photo, and a completed BoU CSD Account Opening Form.
- 2
Fund your account ahead of the auction
Deposit the amount you want to bid (minimum UGX 100,000, in multiples of UGX 100,000) into your bank account before the auction closes.
- 3
Submit your bid by the deadline
Fill in the T-bill bid form with your preferred tenor (91, 182, or 364 days) and amount. Your bank submits it to BoU before the auction on Wednesday at 10:00 EAT.
- 4
Receive your securities on T+1
After the auction, winning bidders are debited and the T-bill is credited to the CSD account by 12:00 on the settlement day. At maturity, the face value is paid directly to your bank account.
Where to buy — licensed operators
These commercial banks and investment firms are licensed by the Capital Markets Authority of Uganda and the Bank of Uganda to facilitate access to Treasury Bills.
Commercial banks (Primary Dealers)
Stanbic Bank
View bank profile
Centenary Bank
View bank profile
DFCU Bank
View bank profile
ABSA Bank
View bank profile
Investment firms, brokers, and fund managers
Crested Capital
Leading investment advisor and stockbroker, focused on developing Uganda's capital markets since 2004.
UAP Old Mutual Financial Services
Key component of the UAP Old Mutual Group, a prominent integrated financial services provider in East Africa and subsidiary of Old Mutual Limited.
Dyer and Blair Uganda Limited
Established stock brokerage firm providing trading services on the Uganda Securities Exchange.
SBG Securities Uganda Limited
Investment house and brokerage firm operating as a subsidiary of Stanbic Uganda Holdings and part of the Standard Bank Group.
Chipper Technologies Uganda Limited
Digital financial services provider offering stock brokerage services in Uganda.
Britam Asset Managers
Leading asset management company offering wealth management services and unit trust funds in Uganda.
Xeno Investment Management Uganda Limited
Digital-first investment management firm offering various unit trust schemes in Uganda.
ICEA Lion Asset Management
Asset management firm offering unit trust schemes and fund management services in Uganda.
GenAfrica Asset Managers
Regional asset manager with a focus on institutional clients, managing assets exceeding KES 452 Billion.
Cornerstone Asset Managers Limited
Asset management firm offering fund management and unit trust services in Uganda.
Sanlam Investments
Part of the Sanlam Group, offering a comprehensive suite of insurance and financial solutions across Africa.
Frequently asked questions about Uganda T-bills
What is the minimum amount I can invest in Uganda T-bills?
The minimum investment is UGX 100,000, and bids must be submitted in multiples of UGX 100,000.
When are T-bill auctions held?
Bank of Uganda holds T-bill auctions every other Wednesday at 10:00 EAT. Settlement happens the next business day (T+1) at 12:00 via RTGS.
What tenors are available?
Every T-bill auction offers all three tenors: 91-day, 182-day, and 364-day bills. Bidders choose how much to place on each tenor.
How are T-bill yields determined?
T-bills are sold through a single-price Dutch auction. All winning bidders receive the highest accepted yield (lowest accepted price), whether they bid competitively or non-competitively.
What is the difference between competitive and non-competitive bids?
Non-competitive bids (UGX 100,000 to 200,000,000) are price-takers and are open to the public. Competitive bids (UGX 200,100,000 and above) are reserved for Primary Dealer commercial banks that bid on their own account or on behalf of large clients.
What tax applies to T-bill returns in Uganda?
Withholding tax of 20% is deducted from T-bill interest at maturity. There is no withholding tax on secondary-market sales.
How do I actually place a bid?
All bids must be submitted through a licensed commercial bank that holds a CSD account with Bank of Uganda. You open a CSD account via your bank using the BoU account-opening form, then submit your bid through them before the auction closes.
Can foreigners buy Uganda T-bills?
Yes. Offshore investors can participate through a licensed Ugandan commercial bank acting as their agent.
Important disclaimer
Auction dates are scheduled by Bank of Uganda and may change. Bond re-openings shown on the source calendar are indicative and may be substituted for other bonds of similar maturity if market conditions warrant. Always confirm the live Invitation-to-Tender on bou.or.ug before bidding. SenteGuide compares and educates — it does not provide personalised financial advice. See our full disclaimer.
Source: Bank of Uganda — Financial Markets Department. Calendar revision dated 4 December 2025. Total scheduled auctions this fiscal year: 24 T-bill and 13 T-bond auctions. View original PDF