Treasury Bills are short-term debt instruments issued by the Government of Zambia through the Bank of Zambia (BoZ) to raise funds for budgetary needs. They have maturities of 91, 182, 273, or 364 days. T-Bills are sold at a discount to face value. Upon maturity, the government pays the full face value, and the investor earns the difference as interest. T-Bills are considered low-risk investments and are popular among institutional and retail (individual) investors. The minimum investable amount is ZMW 1,000.00.