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After the Auction: Coupons, Maturity and Selling

Where your coupons and repayment go, how to sell a bond on the DSE, and how to use it as collateral.

Published 13 Oct 2026 · 2 min read

You won your bid and paid on the settlement date. Here is what happens next, for the whole life of your investment.

Your holding

Your bills or bonds are recorded in your CDS account. There is no paper certificate. Ask your CDP how to get a statement of your holdings, and keep your CDS account number with your important documents.

Coupons (bonds)

Every six months, on the coupon dates in the notice, the Bank of Tanzania pays your coupon to the bank account linked to your CDS account. If the date falls on a weekend or public holiday, payment comes the next business day.

Maturity

  • Bills: at maturity you receive the full face value.

  • Bonds: at maturity you receive the face value plus the last coupon (Bank of Tanzania bond guidelines, 2022).

The money goes to your linked bank account. Nothing needs to be done, as long as your bank details are up to date.

Selling before maturity

Treasury bonds are listed on the Dar es Salaam Stock Exchange (DSE). To sell:

  1. Contact a licensed stockbroker (a DSE broker-dealer).

  2. The broker finds a buyer at a market price, which can be above or below what you paid.

  3. The transfer forms are endorsed by the DSE and passed to the CDPs, and the bond moves to the buyer's CDS account.

Recent notices say secondary trading is in multiples of TZS 100,000, starting a few days after settlement. More: Selling a bond before maturity on the DSE.

Using a bond as collateral

You can pledge a bond as security for a loan. Fill the lien creation form CDS/FORM/05 and submit it to your CDP. When the loan is repaid, the lien release form CDS/FORM/06 frees the bond. Both forms are on the Bank of Tanzania website and at CDP offices.

Keep track on UCHUMIKA

  • Follow your bond on its bond page and in your watchlist.

  • Add it to the portfolio tracker to see every upcoming coupon and your expected income.

  • Turn on alerts for new results and upcoming auctions, for your next investment.

Keep your details current

Tell your CDP when your bank account, phone or address changes, so payments are never delayed.

Back to the investment journey.

Sources: Bank of Tanzania, Guidelines for Participation in Primary and Secondary Markets for Treasury Bonds (2022), sections 4 and 5; Bank of Tanzania auction notices. This article is for education only and is not investment advice.