Mozambique Treasury bills · auction of 5 July 2017
Mozambique T-bill auction, 5 July 2017: 364-day at 27.49%, down 2 bps
At the Treasury bill auction dated 5 July 2017, the Banco de Moçambique cleared the 91-day bill at 25.40% (up 6 basis points), the 182-day bill at 26.35% (up 7 basis points) and the 364-day bill at 27.49% (down 2 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 4.0bn against MZN 9.0bn on offer, 44% of the amount sought, and MZN 2.4bn was accepted.
Over the past year the 364-day rate has ranged from 27.11% to 29.74%.
A year earlier the 364-day bill cleared at 12.75%, so the government is paying 1474 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 27,490 in 12 months on the 364-day bill
Put MZN 100,000 into the 364-day bill at this auction and you get back MZN 127,490 after 12 months: MZN 27,490 in interest before any withholding tax, about MZN 2,291 a month.
That is MZN 20 less than the same money would have earned at the previous auction.
For shorter money: MZN 13,175 on the 182-day bill (6 months), MZN 6,350 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 | 25.400% | 25.340% | MZN 3.00bn | MZN 450m | MZN 350m |
| 182-day | 26.350% | 26.280% | MZN 3.00bn | MZN 600m | MZN 600m |
| 364-day | 27.490% | 27.510% | MZN 3.00bn | MZN 2.92bn | MZN 1.40bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 5 July 2017, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2017-07-05
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