A poor farmer and his wife were overjoyed when their goose began laying golden eggs daily, bringing them increasing wealth. However, their greed grew, and the farmer, impatient for more riches, foolishly killed the goose, believing it held a treasure of gold inside. To his dismay, he found nothing special. In his greed, he lost the source of their daily fortune—learning a harsh lesson about the folly of impatience and the value of consistent blessings.
Treasury bonds and bills are a reliable source of income and a true wealth-generating machine. In Uganda, however, this golden goose has been mishandled by leadership. Large sums of borrowed money have been used to fuel corruption and the misappropriation of public funds. This, along with other macroeconomic factors, plays a critical role in how investors perceive the country’s creditworthiness. The rising yields in the bond market—despite high demand—reflect these concerns.
In this podcast
and sit down to unpack the signals these failed auctions are sending, and what they mean for investors navigating Uganda’s bond market.
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