Calculate yield-to-maturity (YTM), current yield, and bond price for African government bonds. Compare bond vs T-bill returns.
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Bond Yield Calculator
Yield to Maturity (YTM)
Current Yield
Annual Coupon Income
Total Return to Maturity
Market Price
YTM is the most important bond metric — it accounts for both coupon payments AND the price premium/discount to face value. A bond trading below face (discount) has a YTM higher than its coupon rate.
Frequently Asked Questions
What is Yield to Maturity (YTM)?
YTM is the total return you earn if you hold the bond to maturity, accounting for coupon payments AND the gain/loss from buying at a premium or discount to face value. It assumes all coupons are reinvested at the same rate. YTM is the standard way to compare bonds with different prices and coupon rates.
How does bond price relate to yield in Africa?
Bond prices and yields move inversely: when market interest rates rise, existing bond prices fall (and vice versa). In high-inflation African markets like Nigeria and Ghana, bond prices are more volatile because interest rates change more frequently. Buying bonds at a discount can significantly boost your YTM.
How can I buy government bonds in Africa?
In Nigeria: through DMO's FGN savings bond portal or commercial banks. In Kenya: through CBK's DhowCSD online platform (min KSh 50,000). In South Africa: through RSA Retail Savings Bonds or stockbrokers. In Ghana: through banks and licensed dealers. Most require a brokerage/investment account.