Tanzania central bank to float 140bn T-bills on Wednesday

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By Mnaku Mbani
Investors in securities market will have another investment opportunity this week after the Central Bank of Tanzania (BOT) announced an auction of Tsh140bn (US$70 million) Treasury Bills on Wednesday this week.
According to invitation tender, the minimum bid size will be Tsh250,000 ( about $123) in multiples of Tsh10,000 ($5) and interest income will be subjected to withholding tax of 10 per cent.
The announcement has said that Tsh1,000 million for the 35 day T-Bills will be competitive while Tsh100 million of the same redemption period will be sold on non competitive bids.
For three months maturity, Tsh7,000 million ($3.5 million) will be sold on a competitive bid while Tsh200 million ($90,000) will be non competitive.
The BOT announcement says that for six month maturity (182 days) T-Bills, Tsh50,000 million (close to $25 million) will be sold competitively and Tsh700 million ($340,000) will be sold on a non competitive bids.
A total of Tsh80,000 million (close to $40 million) for one year maturity will be sold on a competitive base while Tsh1,000 million ($500,000) will be sold on un competitive bids.
The announcement shows that all bids will be sold in Tanzanian shilling currency and bids will be submitted online through Central Depository Participants (CPDs) and the process will be closed at 11.00 am on the auction date on Wednesday.

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