Mozambique Treasury bills · auction of 10 January 2018
Mozambique T-bill auction, 10 January 2018: 364-day at 23.39%, down 35 bps
At the Treasury bill auction dated 10 January 2018, the Banco de Moçambique cleared the 91-day bill at 22.23% (down 2 basis points), the 182-day bill at 22.28% (down 20 basis points) and the 364-day bill at 23.39% (down 35 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 2.3bn against MZN 1.8bn on offer, 130% of the amount sought, and MZN 1.4bn was accepted.
At 23.39%, the 364-day rate is the lowest in the 40 auctions of the past year.
A year earlier the 364-day bill cleared at 28.84%, so the government is paying 545 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 23,390 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 123,390 after 12 months: MZN 23,390 in interest before any withholding tax, about MZN 1,949 a month.
That is MZN 350 less than the same money would have earned at the previous auction.
For shorter money: MZN 11,140 on the 182-day bill (6 months), MZN 5,558 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 | 22.230% | 22.250% | MZN 500m | MZN 200m | MZN 200m |
| 182-day | 22.280% | 22.480% | MZN 250m | MZN 500m | MZN 250m |
| 364-day | 23.390% | 23.740% | MZN 1.00bn | MZN 1.58bn | MZN 1.00bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 10 January 2018, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-01-10
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