Official figures dated 25 Sep 2026
Every 6 months, for 10 years
K6,360.97
after 15% tax · about 12.56% a year
16.6% coupon, sold at a 14.5% yield: you pay K110.91 for every K100 of face value (above face value, because the yield is below the coupon).
Bank of Zambia auction, 25 September 2026. Before broker and bank fees.
Bonds
Zambia · TapTip Tools
No. 07A891
11 Oct 2026 09:07
10-year bond, every 6 months
K6,360.97
after 15% tax, 20 times
Scan to open this calculation.
taptiptools.com/zambia/bond-calculator
Figures used
2-year bond
12% coupon · 12% yield
Bank of Zambia · 25 Sep 2026 ↗
3-year bond
12.59% coupon · 12.59% yield
Bank of Zambia · 25 Sep 2026 ↗
5-year bond
14.98% coupon · 14.98% yield
Bank of Zambia · 13 Feb 2026 ↗
7-year bond
16% coupon · 13.75% yield
Bank of Zambia · 25 Sep 2026 ↗
10-year bond
16.6% coupon · 14.5% yield
Bank of Zambia · 25 Sep 2026 ↗
15-year bond
17.59% coupon · 15.45% yield
Bank of Zambia · 25 Sep 2026 ↗
Good to know
A bond pays its coupon, a fixed percentage of the face value, every six months until it matures; then the face value is paid back. The Bank of Zambia sells 2, 3, 5, 7, 10 and 15-year bonds at auctions.
The coupon is what the bond pays on its face value. The yield is the return the price is set at in the auction. When the yield is below the coupon, you pay more than face value (a premium); when it is above, less (a discount).
Yes, 15% withholding tax is deducted from each coupon, for residents and non-residents.
Through a commercial bank or a broker registered with the Lusaka Securities Exchange, who bids for you at the Bank of Zambia auction.