Mozambique Treasury bills · auction of 1 November 2017
Mozambique T-bill auction, 1 November 2017: 364-day at 25.94%, down 50 bps
At the Treasury bill auction dated 1 November 2017, the Banco de Moçambique cleared the 91-day bill at 24.09% (down 50 basis points), the 182-day bill at 24.58% (down 50 basis points) and the 364-day bill at 25.94% (down 50 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 405m against MZN 4.2bn on offer, 10% of the amount sought, and MZN 400m was accepted.
At 25.94%, the 364-day rate is the lowest in the 32 auctions of the past year.
A year earlier the 364-day bill cleared at 13.50%, so the government is paying 1244 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 25,940 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 125,940 after 12 months: MZN 25,940 in interest before any withholding tax, about MZN 2,162 a month.
That is MZN 500 less than the same money would have earned at the previous auction.
For shorter money: MZN 12,290 on the 182-day bill (6 months), MZN 6,023 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 | 24.090% | 24.590% | MZN 1.00bn | MZN 200m | MZN 200m |
| 182-day | 24.580% | 25.080% | MZN 1.00bn | MZN 57m | MZN 57m |
| 364-day | 25.940% | 26.440% | MZN 2.20bn | MZN 148m | MZN 143m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 1 November 2017, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2017-11-01
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