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

What Happened in the November 2024 Auction?

On November 27, 2024, the Bank of Uganda reopened three government bonds with maturities of 3 years, 10 years, and 20 years. These reopenings allow investors another chance to buy bonds that were previously issued.

The following bonds were reopened in this auction:

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	15.80%	UGX 278.60 billion
10-Year	22-Jun-2034	16.50%	UGX 445.43 billion
20-Year	18-Jun-2043	17.50%	UGX 769.53 billion

The cut-off yield is the fixed interest rate investors earn when they buy the bond at auction. As usual, longer-term bonds offer higher yields in return for locking in your investment longer.

What These Results Tell Us

The 20-year bond raised the most — over UGX 769 billion, with demand far exceeding the initial offer.
The 3-year bond had a strong yield of 15.80%, ideal for those with short-term plans.
The 10-year bond yielded 16.50%, providing a healthy return for mid-to-long-term savings like building a home or funding a child’s education.
The 20-year bond, offering 17.50%, is a solid option for long-term goals like retirement or generational wealth.

Overall, this auction showed that treasury bonds continue to be in high demand — especially among investors looking for safety, steady income, and long-term returns.

Example: What Would You Earn?

Let’s say you invest UGX 1,000,000 in the 10-year bond at 16.50%:

You’d earn UGX 165,000 per year, paid every 6 months
In 10 years, you’d receive UGX 1,650,000 in interest
You also get your full UGX 1,000,000 back at maturity

That’s reliable, consistent income — no guesswork.

How to Invest in Treasury Bonds via Level Africa

You can now invest in these bonds directly from your phone with Level Africa.

Here’s how to get started:

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

Final Thoughts

The November 2024 bond auction delivered strong, safe returns for investors. Whether you’re new to investing or planning long-term, treasury bonds continue to be one of the most dependable tools for wealth building in Uganda.

Start Now – Create an Account on Level Africa

Join our community of like minded investors like yourself today Building Wealth With Level Africa.

Stay updated by following our WhatsApp channel.

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.