Mozambique Treasury bills · auction of 17 January 2018
Mozambique T-bill auction, 17 January 2018: 364-day at 22.95%, down 44 bps
At the Treasury bill auction dated 17 January 2018, the Banco de Moçambique cleared the 91-day bill at 22.15% (down 8 basis points), the 182-day bill at 22.14% (down 14 basis points) and the 364-day bill at 22.95% (down 44 basis points). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 5.5bn against MZN 4.0bn on offer, 137% of the amount sought, and MZN 2.9bn was accepted.
At 22.95%, the 364-day rate is the lowest in the 41 auctions of the past year.
A year earlier the 364-day bill cleared at 28.84%, so the government is paying 589 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 22,950 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 122,950 after 12 months: MZN 22,950 in interest before any withholding tax, about MZN 1,912 a month.
That is MZN 440 less than the same money would have earned at the previous auction.
For shorter money: MZN 11,070 on the 182-day bill (6 months), MZN 5,537 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 | 22.150% | 22.230% | MZN 500m | MZN 50m | MZN 50m |
| 182-day | 22.140% | 22.280% | MZN 2.50bn | MZN 2.65bn | MZN 2.50bn |
| 364-day | 22.950% | 23.390% | MZN 1.00bn | MZN 2.78bn | MZN 300m |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 17 January 2018, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-01-17
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