The Central Bank of Kenya (CBK) on Thursday, September 11, 2025, released the results of the 91-day, 182-day, and 364-day Treasury Bill auctions.

These results are for issue numbers 2647/091, 2621/182, and 2575/364 dated September 15, 2025.

The total amount offered across the three tenors was Ksh24 billion, while bids received reached Ksh38.77 billion. CBK accepted Ksh28.91 billion, of which Ksh15 billion came from competitive bids and Ksh13.87 billion from non-competitive bids.

The market-weighted average interest rates for the accepted bids were 7.97 per cent for the 91-day, 8.02 per cent for the 182-day, and 9.55 per cent for the 364-day Treasury Bills. The weighted average price per Ksh100 for each tenor was 98.05, 98.16, and 91.31, respectively.

Funds, rates and next auctions

Of the funds raised, Ksh11.8 billion, Ksh10.2 billion, and Ksh4.2 billion for the 91-day, 182-day, and 364-day tenors, respectively, were used for rollover and redemptions.

Compared with the previous auction, interest rates remained largely stable. The 91-day rate increased slightly from 7.9865 per cent to 7.9716 per cent, the 182-day rate fell marginally from 8.031 per cent to 8.0194 per cent, and the 364-day rate decreased from 9.579 per cent to 9.5483 per cent.

The CBK has already scheduled the next auctions for 22 September 2025, again offering Ksh24 billion split across the same three terms. Bids for all tenors must be submitted electronically via DhocSD or Treasury Mobile Direct by 2.00 pm on 18 September. Payments will be made through RTGS and must reach the CBK accounts on Monday, September 22, 2025.

Investors can place bids either competitively or non-competitively. Non-competitive bids will be accepted up to a maximum of Ksh50 million per investor per tenor, except for state corporations, public universities, and semi-autonomous government agencies, which have no limit.

The CBK reserves the right to accept or reject bids partly or fully without explanation. Successful bidders quoting the same rate may receive a pro rata share.