Mozambique Treasury bills · auction of 27 September 2017
Mozambique T-bill auction, 27 September 2017: 364-day at 26.60%, down 1 bps
At the Treasury bill auction dated 27 September 2017, the Banco de Moçambique cleared the 91-day bill at 24.68% (down 6 basis points), the 182-day bill at 25.09% (down 3 basis points) and the 364-day bill at 26.60% (down 1 basis point). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 4.0bn against MZN 7.0bn on offer, 57% of the amount sought, and MZN 4.0bn was accepted.
At 26.60%, the 364-day rate is the lowest in the 27 auctions of the past year.
A year earlier the 364-day bill cleared at 13.50%, so the government is paying 1310 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 26,600 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 126,600 after 12 months: MZN 26,600 in interest before any withholding tax, about MZN 2,217 a month.
That is MZN 10 less than the same money would have earned at the previous auction.
For shorter money: MZN 12,545 on the 182-day bill (6 months), MZN 6,170 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 | 24.680% | 24.740% | MZN 1.00bn | MZN 90m | MZN 90m |
| 182-day | 25.090% | 25.120% | MZN 3.00bn | MZN 1.50bn | MZN 1.50bn |
| 364-day | 26.600% | 26.610% | MZN 3.00bn | MZN 2.38bn | MZN 2.38bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 27 September 2017, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2017-09-27
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