Mozambique Treasury bills · auction of 23 March 2017
Mozambique T-bill auction, 23 March 2017: 91-day at 25.46%, up 103 bps
At the Treasury bill auction dated 23 March 2017, the Banco de Moçambique cleared the 91-day bill at 25.46% (up 103 basis points) and the 182-day bill at 28.38% (up 98 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 3.5bn against MZN 19.0bn on offer, 19% of the amount sought, and MZN 3.0bn was accepted.
Over the past year the 91-day rate has ranged from 10.28% to 25.87%.
A year earlier the 91-day bill cleared at 10.26%, so the government is paying 1520 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 14,190 in 6 months on the 182-day bill
Put MZN 100,000 into the 182-day bill at this auction and you get back MZN 114,190 after 6 months: MZN 14,190 in interest before any withholding tax, about MZN 2,365 a month.
That is MZN 490 more than the same money would have earned at the previous auction.
For shorter money: MZN 6,365 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Mozambique’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 25.460% | 24.430% | MZN 9.00bn | MZN 1.61bn | MZN 1.51bn |
| 182-day | 28.380% | 27.400% | MZN 10.00bn | MZN 1.92bn | MZN 1.49bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 23 March 2017, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2017-03-23
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