How does a Treasury bill auction work in Ethiopia?
The National Bank of Ethiopia auctions Treasury bills on behalf of the Ministry of Finance in 28, 91, 182 and 364-day maturities, sold at a discount, with bids submitted through the CSD system.
Treasury bills (T-bills) are short-term government borrowing. The National Bank of Ethiopia (NBE) runs regular auctions on behalf of the Federal Ministry of Finance, offering bills in 28-, 91-, 182- and 364-day maturities.
T-bills are sold on a discount basis: you pay less than the face value and receive the full face value at maturity, and the difference is your return.
Bids are submitted through the Central Securities Depository (CSD) system, and the bills are held electronically. The NBE publishes each auction's announcement and results.
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Educational information drawn from official ECMA, ESX and NBE documents — not investment or legal advice. For the authoritative, current detail, open the sources above or ask Mehaleq.