Mozambique Treasury bills · auction of 24 January 2018
Mozambique T-bill auction, 24 January 2018: 364-day at 21.78%, down 117 bps
At the Treasury bill auction dated 24 January 2018, the Banco de Moçambique cleared the 364-day bill at 21.78% (down 117 basis points). The rate shown is the weighted average subscription rate.
Demand was strong: bids totalled MZN 2.7bn against MZN 1.5bn on offer, 182% of the amount sought, and MZN 1.5bn was accepted.
At 21.78%, the 364-day rate is the lowest in the 42 auctions of the past year.
A year earlier the 364-day bill cleared at 28.84%, so the government is paying 706 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 21,780 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 121,780 after 12 months: MZN 21,780 in interest before any withholding tax, about MZN 1,815 a month.
That is MZN 1,170 less than the same money would have earned at the previous auction.
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 |
|---|---|---|---|---|---|
| 364-day | 21.780% | 22.950% | MZN 1.50bn | MZN 2.73bn | MZN 1.50bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 24 January 2018, compiled from the Banco de Moçambique. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-01-24
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