November 2023 Bank Of Uganda Treasury Bond Auction – What You Should Know
As the year winds down, investors in Uganda are getting more opportunities to grow their money through treasury bonds. For the month of November 2023, the Bank of Uganda reopened two government bonds — one short-term and one long-term — offering attractive interest and low entry barriers. Here’s what was on offer.
What Bonds Were Offered?
On November 1, 2023, the Bank of Uganda reopened two treasury bonds:
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UG12G2905259 – 14.000% Government of Uganda Treasury Bond due 29-May-2025 (2-Year Reopening)
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UG12K0302337 – 14.375% Government of Uganda Treasury Bond due 03-Feb-2033 (10-Year Reopening)
| Bond Term | ISIN | Coupon Rate | Maturity Date | Offering Amount | Withholding Tax |
|---|---|---|---|---|---|
| 2-Year | UG12G2905259 | 14.000% | 29-May-2025 | UGX 200 billion | 20% |
| 10-Year | UG12K0302337 | 14.375% | 03-Feb-2033 | UGX 320 billion | 10% |
These were reopening auctions, meaning the bonds were originally issued earlier and are now available again for investors to buy.
How the Auction Worked
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Auction Date: Wednesday, November 1, 2023
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Settlement Date: Thursday, November 2, 2023
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Minimum Investment:
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UGX 100,000 (non-competitive bid)
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UGX 200.1 million (competitive bid)
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Interest Payments: Every 6 months (see schedule in official document)
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Allotment: All successful bids (competitive or non-competitive) are priced at the same cut-off yield — the highest accepted interest rate.
Non-competitive bids up to UGX 200 million are accepted in full — making this option ideal for new and retail investors.
Why These Bonds Matter
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The 2-year bond is perfect for short-term goals like school fees, renovations, or testing bonds for the first time.
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The 10-year bond is better for medium-to-long-term planning — think homeownership, children’s education, or business expansion.
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Both bonds offer fixed, semi-annual interest, providing a reliable income stream while your capital stays intact until maturity.
How to Invest with Level Africa
Level Africa makes the process digital, affordable, and beginner-friendly.
Here’s how to get started:
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Create an account on Level Africa
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Complete KYC with your ID or passport
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Go to Treasury Bonds under Products
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Choose bonds listed (including reopened 3Y or 20Y bonds)
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Fund your Level wallet
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Buy bonds — instantly, if marked “Available”
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Track interest and returns from your dashboard
Final Thoughts
The November 2023 bond auction gives investors another solid opportunity to earn government-guaranteed returns. With yields of 14% and above and no barriers to entry, these bonds are a smart addition to any portfolio — whether you’re a first-time investor or a seasoned planner.
Start Now – Create an Account on Level Africa
Join our community of like minded investors like yourself today Building Wealth With Level Africa.