Mozambique Treasury bills · auction of 3 January 2018
Mozambique T-bill auction, 3 January 2018: 364-day at 23.74%, down 15 bps
At the Treasury bill auction dated 3 January 2018, the Banco de Moçambique cleared the 91-day bill at 22.25% (down 25 basis points), the 182-day bill at 22.48% (down 3 basis points) and the 364-day bill at 23.74% (down 15 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 2.0bn against MZN 2.0bn on offer, 102% of the amount sought, and MZN 1.5bn was accepted.
At 23.74%, the 364-day rate is the lowest in the 39 auctions of the past year.
A year earlier the 364-day bill cleared at 28.84%, so the government is paying 510 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 23,740 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 123,740 after 12 months: MZN 23,740 in interest before any withholding tax, about MZN 1,978 a month.
That is MZN 150 less than the same money would have earned at the previous auction.
For shorter money: MZN 11,240 on the 182-day bill (6 months), MZN 5,563 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 | 22.250% | 22.500% | MZN 500m | MZN 90m | MZN 50m |
| 182-day | 22.480% | 22.510% | MZN 1.00bn | MZN 990m | MZN 990m |
| 364-day | 23.740% | 23.890% | MZN 500m | MZN 965m | MZN 500m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 3 January 2018, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-01-03
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