June 2022 Bank Of Uganda Treasury Bond Auctions – Mid-Year Investment Opportunities

In June 2022, the Bank of Uganda held two separate auctions — a scheduled and a non-calendar auction — giving investors multiple options to grow their wealth through safe, government-backed bonds. With maturities ranging from 2 to 20 years, there was something for every investment goal.

Mid-June Auction – June 15, 2022

Bank of Uganda reopened the following bonds:

UG12J0605277 – 16.000% Government of Uganda Treasury Bond due 06-May-2027 (5-Year Reopening)
UG12L0111405 – 17.500% Government of Uganda Treasury Bond due 01-Nov-2040 (20-Year Reopening)

Bond Term	ISIN	Coupon Rate	Maturity Date	Offering Amount	Withholding Tax
5-Year	UG12J0605277	16.000%	06-May-2027	UGX 150 billion	20%
20-Year	UG12L0111405	17.500%	01-Nov-2040	UGX 250 billion	10%

End-of-Month Non-Calendar Auction – June 29, 2022

This special reopening auction offered a wider mix of bonds across short, medium, and long-term tenors:

UG12F0709234 – 10.000% Treasury Bond due 07-Sep-2023 (2-Year)
UG12J0605277 – 16.000% Treasury Bond due 06-May-2027 (5-Year)
UG12K0403325 – 16.375% Treasury Bond due 04-Mar-2032 (10-Year)
UG12K0811352 – 16.250% Treasury Bond due 08-Nov-2035 (15-Year)
UG12L0111405 – 17.500% Treasury Bond due 01-Nov-2040 (20-Year)

Bond Term	ISIN	Coupon Rate	Maturity Date	Offering Amount	Withholding Tax
2-Year	UG12F0709234	10.000%	07-Sep-2023	UGX 100 billion	20%
5-Year	UG12J0605277	16.000%	06-May-2027	UGX 120 billion	20%
10-Year	UG12K0403325	16.375%	04-Mar-2032	UGX 150 billion	10%
15-Year	UG12K0811352	16.250%	08-Nov-2035	UGX 180 billion	10%
20-Year	UG12L0111405	17.500%	01-Nov-2040	UGX 230 billion	10%

Why These Bonds Matter

The 2-Year bond is perfect for short-term goals like emergency funds, tuition, or travel.
5-Year and 10-Year bonds offer strong interest rates for medium-term goals such as land, business capital, or property down payments.
15-Year and 20-Year bonds are ideal for retirement planning, wealth preservation, and creating generational value.
All bonds offer fixed interest every 6 months, and your full investment is repaid at the end of the term.
With entry points starting from UGX 100,000, anyone can begin investing.

How to Invest with Level Africa

Level Africa simplifies the investment process — no bank queues, no paperwork.

Steps to invest:

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

The June 2022 bond auctions delivered one of the most comprehensive offerings of the year. Whether you’re investing short-term or decades ahead, these treasury bonds offered flexible, reliable, and secure investment options backed by the Government of Uganda.

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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.