Mozambique Treasury bills · auction of 27 December 2017
Mozambique T-bill auction, 27 December 2017: 364-day at 23.89%, down 111 bps
At the Treasury bill auction dated 27 December 2017, the Banco de Moçambique cleared the 91-day bill at 22.50% (down 150 basis points), the 182-day bill at 22.51% (down 162 basis points) and the 364-day bill at 23.89% (down 111 basis points). The rate shown is the weighted average subscription rate.
The auction was undersubscribed: bids totalled MZN 831m against MZN 2.2bn on offer, 38% of the amount sought, and MZN 831m was accepted.
At 23.89%, the 364-day rate is the lowest in the 39 auctions of the past year.
A year earlier the 364-day bill cleared at 27.11%, so the government is paying 322 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 23,890 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 123,890 after 12 months: MZN 23,890 in interest before any withholding tax, about MZN 1,991 a month.
That is MZN 1,110 less than the same money would have earned at the previous auction.
For shorter money: MZN 11,255 on the 182-day bill (6 months), MZN 5,625 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 | 22.500% | 24.000% | MZN 1.00bn | MZN 100m | MZN 100m |
| 182-day | 22.510% | 24.130% | MZN 200m | MZN 130m | MZN 130m |
| 364-day | 23.890% | 25.000% | MZN 1.00bn | MZN 601m | MZN 601m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 27 December 2017, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2017-12-27
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