December 2022 Bank Of Uganda Treasury Bond Auction – 3-Year and 15-Year Bonds Reopened

To wrap up the year, Bank of Uganda held a treasury bond auction reopening two bonds — one for medium-term savers and another for long-term planners. These government-backed investments remain a go-to choice for Ugandans seeking safety and steady returns.

What Bonds Were Offered?

On Wednesday, December 28, 2022, the following bonds were auctioned:

UG12G2905259 – 14.000% Government of Uganda Treasury Bond due 29-May-2025 (3-Year Reopening)
UG12K1405378 – 16.000% Government of Uganda Treasury Bond due 14-May-2037 (15-Year Reopening)

Bond Term	ISIN	Coupon Rate	Maturity Date	Offering Amount	Withholding Tax
3-Year	UG12G2905259	14.000%	29-May-2025	UGX 200 billion	20%
15-Year	UG12K1405378	16.000%	14-May-2037	UGX 350 billion	10%

These are reopening bonds, meaning they’ve been offered in past auctions and are now available again.

Auction Details

Auction Date: Wednesday, December 28, 2022
Settlement Date: Thursday, December 29, 2022 (by 12:00 PM)
Minimum Investment:
- UGX 100,000 for non-competitive bids
- UGX 200.1 million for competitive bids (via Primary Dealer Banks)
Coupon Payments: Made every 6 months until maturity
Bidding Deadline: 10:00 AM on auction day
Allotment Method: All successful bids were awarded at the auction’s cut-off price — the lowest price that matched the highest accepted yield

Why These Bonds Matter

The 3-Year bond is great for medium-term goals like tuition savings, land purchases, or business planning.
The 15-Year bond is ideal for retirement planning, wealth preservation, and long-term income generation.
Both offer stable interest payments and guaranteed return of capital at the end.
Bonds are open to all investors starting from just UGX 100,000.

How to Invest with Level Africa

Level Africa makes investing simple and fully digital — no queues, no paperwork.

Steps to start investing:

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

December’s auction capped off a strong year for bond investors. With the security of government backing and dependable returns, these bonds remain one of the best ways to build and protect your wealth.

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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.