Mozambique Treasury bills · auction of 25 April 2018
Mozambique T-bill auction, 25 April 2018: 364-day at 15.90%, unchanged
At the Treasury bill auction dated 25 April 2018, the Banco de Moçambique cleared the 182-day bill at 16.09% (down 4 basis points) and the 364-day bill at 15.90% (unchanged). The rate shown is the weighted average subscription rate.
The auction was fully subscribed: bids totalled MZN 2.5bn against MZN 2.0bn on offer, 123% of the amount sought, and MZN 1.6bn was accepted.
At 15.90%, the 364-day rate is the lowest in the 47 auctions of the past year.
A year earlier the 364-day bill cleared at 28.22%, so the government is paying 1232 basis points less than twelve months ago.
What this means for MZN 100,000
Worked from the published rate · information, not advice
MZN 15,900 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 115,900 after 12 months: MZN 15,900 in interest before any withholding tax, about MZN 1,325 a month.
That is the same as at the previous auction.
For shorter money: MZN 8,045 on the 182-day bill (6 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 |
|---|---|---|---|---|---|
| 182-day | 16.090% | 16.130% | MZN 1.00bn | MZN 650m | MZN 650m |
| 364-day | 15.900% | 15.900% | MZN 1.00bn | MZN 1.81bn | MZN 1.00bn |
Source: Banco de Moçambique result · weighted average subscription rate
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Afronomics (2026). Mozambique Treasury bill auction, 25 April 2018, compiled from the Banco de Moçambique. Retrieved 5 October 2026, from https://www.afronomicsfeed.com/markets/tbills/mozambique/2018-04-25
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