How to Buy Treasury Bills in Ethiopia

How do you buy Treasury Bills in Ethiopia, step by step?

The complete process, at a high level. Each step links to the guide that covers it in detail:

1. 01Confirm eligibility and choose an ECMA-licensed intermediary. Choosing a broker →
2. 02Open a brokerage and securities account. Account opening guide →
3. 03Review the NBE auction announcement. Reading announcements →
4. 04Choose a tenor. Choosing a tenor →
5. 05Choose a face-value amount. Deciding how much →
6. 06Understand the available bid method. Bid strategy →
7. 07Fund and submit the instruction. The auction process →
8. 08Check the result and allocation. Reading results →
9. 09Complete settlement. Settlement guide →
10. 10Hold to maturity or explore a secondary-market sale. Selling before maturity →

What is a licensed intermediary?

A licensed intermediary is an approved capital market service provider that helps investors access securities such as Treasury Bills. In Ethiopia, this may be an investment bank, securities dealer, or broker, depending on the services they are licensed to provide.

Investment bank

A licensed institution that supports capital market transactions, including helping investors access securities, providing investment-related services, and facilitating participation in instruments such as Treasury Bills.

Securities dealer

A licensed firm that can buy and sell securities and may facilitate Treasury Bill transactions for investors, depending on its approved services.

Broker

A licensed intermediary that connects investors to the securities market by receiving investor instructions and facilitating buy or sell orders on their behalf.

How a licensed intermediary supports participation

Individual investors do not take part in the Treasury Bill auction by themselves. A licensed intermediary is the investor’s main access point to the market. They typically help you: