Mozambique Treasury bills · auction of 6 December 2017
Mozambique T-bill auction, 6 December 2017: 364-day at 25.44%, up 4 bps
At the Treasury bill auction dated 6 December 2017, the Banco de Moçambique cleared the 91-day bill at 24.00% (unchanged), the 182-day bill at 24.53% (up 3 basis points) and the 364-day bill at 25.44% (up 4 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 3.3bn against MZN 4.5bn on offer, 72% of the amount sought, and MZN 3.3bn was accepted.
Over the past year the 364-day rate has ranged from 25.38% to 29.74%.
A year earlier the 364-day bill cleared at 13.50%, so the government is paying 1194 basis points more than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 25,440 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 125,440 after 12 months: MZN 25,440 in interest before any withholding tax, about MZN 2,120 a month.
That is MZN 40 more than the same money would have earned at the previous auction.
For shorter money: MZN 12,265 on the 182-day bill (6 months), MZN 6,000 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 | 24.000% | 24.000% | MZN 1.00bn | MZN 100m | MZN 100m |
| 182-day | 24.530% | 24.500% | MZN 1.00bn | MZN 1.00bn | MZN 1.00bn |
| 364-day | 25.440% | 25.400% | MZN 2.50bn | MZN 2.16bn | MZN 2.16bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 6 December 2017, compiled from the Banco de Moçambique. Retrieved 4 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2017-12-06
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