Understand. Trade. Forecast.
Your centralized window into Ethiopia’s money market: auction schedules, published results, and the tools to analyze, simulate, and forecast what comes next.
A full year of pre-announced T-bill auctions closes as investors await the next calendar
EFY 2018 (2025/26) is in review. With the EFY 2019 first-quarter calendar not yet published, investors lack visibility on the next auction dates, planned issuance per tenor, and the settlement and maturity timeline.
Read →Ethiopia closes its fiscal year with T-bill yields at multi-year lows and the one-year back in favour
The 1,006th auction, the last of EFY 2018, held the one-year tilt; the 364-day cleared at perfect cover and the one-month bill fell to its lowest since December 2020.
Read →Ethiopia restores T-bill supply and leans into the one-year as yields keep falling
Read →Ethiopia sells just a third of planned T-bills as yields fall and the one-year recovers
Read →Ethiopia's Treasury Bill auction attracts ETB 79.2 billion in bids as investor demand rises
Read →Start with the Fundamentals
What are Ethiopian Treasury Bills, and who can buy them?
Treasury Bills, commonly called T-Bills, are short-term Government of Ethiopia securities used to raise short-term public financing and support the development of Ethiopia's government securities market.
What they are
Short-term government investment instruments. In Ethiopia they are issued by the Ministry of Finance, with auctions conducted through the National Bank of Ethiopia.
Who can buy
Ethiopian citizens, foreign nationals of Ethiopian origin, firms and companies, financial institutions, and other eligible investors, subject to onboarding, capital market, FX, and tax requirements.
How to buy & settle
Open a brokerage account with an ECMA-licensed intermediary and place auction bids through them. Bids run via the CSD system; allocation, settlement, refunds, and maturity proceeds flow back through your intermediary.
Tenors Explained
How soon can you get the return on bills purchased?
A tenor is simply how long your money stays invested: the time from settlement until the bill matures and pays out its full face value.
Ethiopia offers four tenors. Shorter ones return your money faster; longer ones can earn more, depending on auction results and demand.
A very short-term option. Ideal if you want your money back quickly and prefer maximum flexibility.
Read the tenor guideA short-term option that earns a bit more while keeping your money accessible in the near future.
Read the tenor guideA medium-term option. Good if you're comfortable leaving your money for a few months to earn a better return.
Read the tenor guideA longer-term option. Suitable if you want to lock in your money for longer in exchange for potentially higher returns.
Read the tenor guideParticipation Flow
How the Treasury Bill auction works
Taking part is simpler than it looks. The process follows a few clear steps.
Open Account
Start with an Ethiopian Capital Market Authority (ECMA)-licensed intermediary such as an investment bank and brokerage firm.
Fund Account
Deposit the amount you want to invest, following the instructions provided by your service provider
Submit Bid
Place your bid based on the current auction announcement and guidelines. Follow the official NBE notice
Review Results
After the auction, results are published showing how much was offered, how much was accepted, and the average return.
Wait for Maturity
Follow the issue date, maturity date, and tenor-by-tenor outcome after the auction.
Auction Schedule
The reference schedule window is published by the Ministry of Finance Ethiopia and reflected through the official notice process.
Reference auction schedule
Upcoming auctions on or after today (from the backend schedule endpoint).
| Auction Date | Total Issuance | 28D | 91D | 182D | 364D |
|---|---|---|---|---|---|
| Loading upcoming auctions... | |||||
Source: Ministry of Finance Ethiopia Auction Schedule. Accessed at link.
Learn more about Treasury Bills
Learn before you participate
Learn how Ethiopia’s money market works and use practical tools to compare options before participating.
Ethiopian T-Bills, Explained
What Ethiopian Treasury Bills are, how the standard tenors work, and why they matter.
Read moreWhy Invest in T-Bills
The case for T-Bills: capital safety, predictable returns, and where they fit.
Read moreKey Terms & Concepts
The essential vocabulary: face value, discount, yield, tenor, cut-off, and more.
Read moreWho Runs the Market
The institutions behind the market (NBE, MoF, and ESX) and the role each plays.
Read moreMarket structure
The rules and regulation that govern Ethiopian T-Bills, and how the pieces fit together.
Read more