Mozambique Treasury bills · auction of 12 July 2017
Mozambique T-bill auction, 12 July 2017: 364-day at 27.53%, up 4 bps
At the Treasury bill auction dated 12 July 2017, the Banco de Moçambique cleared the 91-day bill at 25.38% (down 2 basis points), the 182-day bill at 26.36% (up 1 basis point) and the 364-day bill at 27.53% (up 4 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 5.0bn against MZN 15.0bn on offer, 34% of the amount sought, and MZN 5.0bn 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 13.50%, so the government is paying 1403 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 27,530 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 127,530 after 12 months: MZN 27,530 in interest before any withholding tax, about MZN 2,294 a month.
That is MZN 40 more than the same money would have earned at the previous auction.
For shorter money: MZN 13,180 on the 182-day bill (6 months), MZN 6,345 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 | 25.380% | 25.400% | MZN 5.00bn | MZN 450m | MZN 450m |
| 182-day | 26.360% | 26.350% | MZN 5.00bn | MZN 950m | MZN 950m |
| 364-day | 27.530% | 27.490% | MZN 5.00bn | MZN 3.65bn | MZN 3.65bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 12 July 2017, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2017-07-12
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