August 2024 Bank Of Uganda Treasury Bond Auction – Results & What It Means for You

What Happened in the August 2024 Auction?

On August 7, 2024, the Bank of Uganda held a bond auction for 3-year, 10-year, and 20-year government securities. These were reopenings of existing bonds — meaning they had been offered before and made available again to raise more funding.

The following bonds were reopened:

UG12J1301280 – 14.125% 3-Year Bond maturing 13-Jan-2028
UG12K2206346 – 14.250% 10-Year Bond maturing 22-Jun-2034
UG12L1806433 – 15.000% 20-Year Bond maturing 18-Jun-2043

What Bonds Were Offered and at What Rates?

Bond Term	Maturity Date	Cut-off Yield (Interest Rate)	Amount Raised
3-Year	13-Jan-2028	15.25%	UGX 287.85 billion
10-Year	22-Jun-2034	15.75%	UGX 448.35 billion
20-Year	18-Jun-2043	16.50%	UGX 642.39 billion

The cut-off yield is the guaranteed return for investors whose bids were accepted at the auction. The longer the bond’s maturity, the higher the rate tends to be.

What These Results Tell Us

Investor demand remains strong, especially for long-term investments like the 20-year bond, which attracted nearly UGX 1 trillion in total bids.
The 3-year bond, yielding 15.25%, offers good short-term growth for people with nearer financial goals like school fees or projects.
The 10-year bond, paying 15.75%, is perfect for long-term saving strategies like land, property, or business expansion.
The 20-year bond at 16.50% is ideal for retirement planning or leaving a financial legacy.

Example: What Would You Earn?

Let’s say you invest UGX 1,000,000 in the 10-year bond at 15.75%:

You’d earn UGX 157,500 per year, paid every 6 months
Over 10 years, that’s UGX 1,575,000 in total interest
You also get back your UGX 1,000,000 at the end of the term

How to Invest in Treasury Bonds via Level Africa

Level Africa makes it simple to invest in government bonds from your phone or laptop.

Here’s how to start:

Create an account on Level Africa
Upload your National ID or Passport (KYC)
Go to Treasury Bonds under Products
Choose a bond that fits your goal
Deposit funds into your wallet
Place your order – bonds marked “Available” can be bought instantly
Track your interest and bond status online

Final Thoughts

The August 2024 bond auction continues to show that treasury bonds are a powerful way to grow wealth safely in Uganda. With guaranteed interest and government backing, these investments suit everyone — whether you’re just starting or looking to grow long-term value.

Start Now – Create an Account on Level Africa

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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.