April 2023 Bank Of Uganda Treasury Bond Auction – 2-Year and 10-Year Bonds Reopened

Looking for a secure way to grow your money in 2023? The Bank of Uganda is reopening two government treasury bonds this April — giving both new and experienced investors the chance to earn consistent, government-backed interest over the short or long term.

What Bonds Are Being Offered?

On Wednesday, April 19, 2023, Bank of Uganda will auction the following reopened bonds:

UG12F0808242 – 14.000% Government of Uganda Treasury Bond due 08-Aug-2024 (2-Year Reopening)
UG12J2005328 – 15.000% Government of Uganda Treasury Bond due 20-May-2032 (10-Year Reopening)

Bond Term	ISIN	Coupon Rate	Maturity Date	Offering Amount	Withholding Tax
2-Year	UG12F0808242	14.000%	08-Aug-2024	UGX 150 billion	20%
10-Year	UG12J2005328	15.000%	20-May-2032	UGX 250 billion	10%

Auction Details

Auction Date: Wednesday, April 19, 2023
Settlement Date: Thursday, April 20, 2023
Minimum Investment:
- UGX 100,000 (non-competitive bid)
- UGX 200.1 million (competitive bid via a primary dealer bank)
Interest Payments: Every 6 months
Bidding Deadline: 10:00 AM on auction day
Allotment: All successful bids (both competitive and non-competitive) are awarded at one price — the auction’s cut-off yield (highest accepted interest rate)

Why These Bonds Matter

The 2-year bond is great if you’re investing short-term and want a quick return without risking your money.
The 10-year bond is ideal for long-term goals like education, homeownership, or retirement planning.
Both offer fixed, semi-annual interest payments, meaning you’ll receive consistent income every 6 months.
You don’t need millions — start with as little as UGX 100,000.

How to Invest with Level Africa

Level Africa makes treasury bond investing simple and accessible — all from your phone.

Steps to get started:

Create an account on Level Africa
Complete KYC with your ID or passport
Go to Treasury Bonds under Products
Choose bonds listed (including reopened 3Y or 20Y bonds)
Fund your Level wallet
Buy bonds — instantly, if marked “Available”
Track interest and returns from your dashboard

Final Thoughts

April’s auction offers two strong, safe options for Ugandans looking to grow their wealth in 2023. Whether you’re investing for just 2 years or building long-term income, treasury bonds continue to offer some of the most secure and rewarding opportunities.

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Frequently Asked Questions About Treasury Bonds in Uganda

What are government bonds?

Government bonds are a way to lend money to the Government of Uganda. In return, the government pays you a fixed interest rate every 6 months and gives back your full investment at the end of the bond’s term.

How do treasury bonds work in Uganda?

You buy a bond (e.g. 3, 5, or 10 years), the government pays you interest every 6 months, and you get your full capital back when the bond matures. All bonds are issued and regulated by the Bank of Uganda.

What is the minimum amount to invest in government bonds?

You can start investing with UGX 100,000 using a non-competitive bid. No broker is needed when using platforms like Level Africa.

How can I buy government bonds in Uganda?

You need a Central Depository System (CDS) account or a digital investment platform like Level Africa.
Steps:

Create an account on Level Africa
Upload your National ID or Passport (KYC)
Go to “Treasury Bonds” under Products
Choose a bond that matches your investment goals
Deposit funds into your wallet
Place your order — instantly if marked “Available”
Track your bond and earnings from your dashboard

What are the current treasury bond interest rates in Uganda (2025)?

Rates vary by bond type and auction results. For example:

2-Year bond: around 15.75%
10-Year bond: around 16.25%
20-Year bond: up to 18.50%
All rates are set during each auction by the Bank of Uganda.

Are treasury bonds safe in 2025?

Yes. Treasury bonds are backed by the Government of Uganda and are considered among the safest investments, especially for long-term or retirement goals.

Do government bonds pay interest?

Yes. Interest is called a coupon and is paid out every 6 months. You receive it directly to your wallet or bank account.

Can I sell a bond before it matures?

Yes, bonds are transferable and can be rediscounted if you need to exit early, although the resale price depends on current market rates.

How do interest rates affect bonds?

If new bond rates go up, the value of existing bonds on the market may go down (and vice versa). However, if you hold your bond until maturity, you still get your full investment and all promised interest.

What’s the difference between treasury bonds and treasury bills?

Treasury bonds: Long-term (2–25 years), pay interest every 6 months
Treasury bills: Short-term (91–364 days), sold at a discount and paid back in full at maturity

Can individuals buy Bank of Uganda treasury bonds?

Yes. Both individuals and institutions can invest. Many Ugandans now use Level Africa to access bonds directly with no paperwork.

How often are treasury bonds auctioned in Uganda?

Typically, every 28 days. The auction calendar is published annually by the Bank of Uganda, and Level Africa notifies you ahead of each sale.