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Tanzania Treasury Bills oversubscribed more than 100 pc

By Mnaku Mbani

Appetite for government securities has continued to improve in Tanzanian market after the treasury bills being oversubscribed by more than 100 per cent.

According to the Bank of Tanzania (BoT), auction, the treasury bills auction attracted bids worth 213 bn/- above 138bn/- sought by the government.
At the end a total of 179 bn/- was retained as the successful amount. Average weigh average yield days offer decreased to 15.64 per cent on Tuesday this week from 16 per cent recorded in January this year.
The 364 days offer attracted bids worth125.7 bn/- compared to 80bn/- offered to the market for bidding. For the 182 days tenure, a total of 50bn/- was offered to the market and at the end it attracted bids worth 51.42bn/-.

For the  35 days offer attracted no bid.

The weigh average yield for 364 and 182 days offers were 86/36/ 92.86

Investors for the floated government securities were commercial banks, pension funds, insurance companies and some microfinance institutions.

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