By the 254.ke Newsroom
Kenya’s 91-day Treasury bill paid an average of 8.75 percent at the Central Bank of Kenya’s October 15 auction, with the 182-day at 8.86 percent and the 364-day at 9.04 percent, according to the CBK’s published results. Investors bid KSh68.5 billion for KSh28 billion on offer, and the government accepted KSh52.3 billion. Bids for this week’s auction closed at 2 p.m. today, October 22.
What are Kenya’s T-bill rates this week?
The figures below are the weighted average rates of accepted bids from the October 15 auction, with the previous auction’s rate for comparison. The CBK results sheet does not publish prior-week amounts or bids.
| Tenor | Offered (KSh m) | Bids (KSh m) | Accepted (KSh m) | Rate now | Rate last auction |
|---|---|---|---|---|---|
| 91-day | 8,000 | 49,796 | 34,244 | 8.7500% | 8.7615% |
| 182-day | 10,000 | 12,058 | 11,479 | 8.8600% | 8.8744% |
| 364-day | 10,000 | 6,643 | 6,593 | 9.0383% | 9.0352% |
| Total | 28,000 | 68,498 | 52,316 |
The 91-day bill was subscribed 622 percent, the 182-day 121 percent and the 364-day 66 percent. The one-year paper was the only tenor that drew fewer bids than the amount offered, a point also noted in analysis by Serrari Group, published October 16.
Why did the 91-day bill attract so much money?
Short bills are the easiest place to park cash. Most of the money went to the three-month paper, where the Treasury accepted more than four times the KSh8 billion it had advertised. Over the same auction, the spread between the 91-day and 364-day rates was only about 0.29 percentage points, so investors gave up little yield by staying short.
The CBK sheet also shows KSh44.1 billion in rollovers and redemptions on the day. Against KSh52.3 billion accepted, that leaves roughly KSh8.2 billion of net new borrowing across the three tenors. This is a 254.ke calculation from the CBK figures, not a number the bank prints. By tenor, the 364-day paper saw net repayment, while the 91-day and 182-day bills raised fresh money.
What does this mean for savers and borrowers?
T-bill yields are a benchmark for what Kenyan banks and money-market funds can earn on safe government paper. They sit close to the Central Bank’s policy rate, which the Monetary Policy Committee held at 8.75 percent this month; see our coverage of the CBK rate decision for October 2026.
For the Treasury, cheap, heavily subscribed short-term borrowing helps with a large maturity wall. We reported earlier that about Sh1.7 trillion of public debt falls due before June 2027, in our piece on Kenya’s debt due before June 2027. Rates matter for the currency too; see Kenya shilling rate at Sh129.81.
When are the next T-bill results?
The next auction covers issues 2705/091, 2679/182 and 2634/364, again for KSh28 billion in total (KSh8 billion, KSh10 billion and KSh10 billion). Bids closed at 2 p.m. on Thursday, October 22, via DhowCSD or Treasury Mobile Direct, and payment is due by 2 p.m. on Monday, October 26. Results are published on the CBK’s Treasury bills page.
Frequently asked questions
What is the current 91-day Treasury bill rate in Kenya?
At the October 15, 2026 auction the weighted average rate of accepted bids was 8.7500 percent, down from 8.7615 percent at the previous auction.
How much is the 364-day T-bill paying?
9.0383 percent at the same auction, marginally up from 9.0352 percent.
How do I buy a Treasury bill in Kenya?
Bids are placed through DhowCSD, the CBK’s central securities depository, or through the Treasury Mobile Direct platform, before the 2 p.m. Thursday cut-off.
Which T-bill tenor was undersubscribed?
The 364-day bill, with KSh6.64 billion in bids against KSh10 billion offered (66 percent).
Sources: Central Bank of Kenya auction results and notice for issues 2704/091, 2678/182, 2633/364; Serrari Group, “Kenya 91-Day Treasury Bill Draws KSh 49.8bn in Bids,” October 16, 2026. Figures as of October 22, 2026.
