The Ministry of Finance has disclosed plans to issue tenders for local debt instruments totalling EGP 1.044trn in March 2026, as part of a plan published on the ministry’s official website. The plan includes issuing tenders worth EGP 2.703trn in the third quarter (Q3) of fiscal year 2025/2026, to repay maturing debt instruments and finance the state budget deficit.
The Central Bank of Egypt, which conducts these auctions on behalf of the government, will offer 20 Treasury bill (T-bill) auctions worth EGP 820bn, 19 bond auctions worth EGP 213bn, and two sukuk auctions worth EGP 11bn.
According to the plan, Treasury bills worth EGP 125bn are scheduled to be offered with a 91-day tenor, EGP 200bn with a 182-day tenor, and EGP 235bn with a 273-day tenor, while 364-day Treasury bills are scheduled at EGP 260bn.
The plan also provides for two-year Treasury bonds worth EGP 67bn, including EGP 13bn in “zero-coupon” bonds, alongside three-year bonds worth EGP 110bn, and five-year bonds worth EGP 36bn, including EGP 6bn in “floating-rate” bonds.
The plan further includes two auctions of local fixed-return sukuk worth EGP 11bn.
Banks operating in the Egyptian market are the largest investors in government-issued debt instruments offered on a regular basis. These instruments are offered through 15 banks participating in the Primary Dealers system in the primary market, with these banks reselling part of the issuance in the secondary market to individual and institutional investors, both domestic and foreign.
