The Bank of Zambia has introduced a 20-year Government bond, extending the range of maturities available in the Government securities market.
The new bond will form part of the benchmark bonds and is aimed at facilitating the development and growth of longer-dated financial instruments in the domestic market.
The 20-year bond adds to the Government bond tenures that have included 2, 3, 5, 7, 10 and 15 years.
However, the Bank of Zambia announced earlier this year that the 5-year bond will not be issued for the remainder of 2026, as it has already reached its critical mass.
The 5-, 7-, 10- and 15-year bonds were designated benchmark bonds, while the 2- and 3-year bonds are classified as non-benchmark bonds.
The first auction of the new 20-year Government bond is scheduled for 18th December 2026.
For the fourth quarter of 2026, the Bank of Zambia says K2.2 billion will be offered through Treasury bills and K6.3 billion through Government bonds.
Treasury bill auctions will be conducted every two weeks, while Government bonds will be issued twice during the quarter.
The two Government bond auctions are scheduled for 20th November and 18th December 2026.
By Rachel Mumba
